Domestic Markets surged during afternoon session trade on Wednesday after the US senate finally reached a deal with officials from the Donald Trump administration for a $2 trillion stimulus package.
At around 1:15 pm, BSE Sensex surged 1,439 points or 5.40 per cent at 28,113.94 points, while Nifty was up 387.75 points or almost 5 per cent at 8,188.80.
It is worth noting that all sectoral indices are trading higher during the session.
Some of the top gainers on the Sensex pack include Axis Bank, Reliance, Maruti Suzuki, Kotak Mahindra, Reliance.
Despite the surge, there is volatility in the market due to the 21-day lockdown announced by the government in the wake of the novel coronavirus pandemic.
As a result, many companies have been forced to shut their shops for the duration and the same sentiment could reflect on the stock market if the government does not intervene.
Analysts say the government needs to immediately come out with an economic relief package to help markets and industries tackle the economic impact of Covid-19.
Finance Minister Nirmala Sitharaman said yesterday the government is expected to come out with an economic relief package soon.
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