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Sensex Ends 1,000 Points Higher; Posts Solid Gains For April

Sunil Fernandes

Benchmark indices ended the day strong with all round gains, as global cues continued to remain solid.

Hopes of treatment for Covid-19 infections gained ground, after Pharma major, Gilead Sciences said that early results of coronavirus drug trial show improvement with shorter remdesivir treatment.

Remdesivir is a product of Gilead Sciences and is widely considered to be a front-runner among the investigational therapies being tested as treatments for COVID-19. This resulted in solid gains across markets, with the Sensex ending the 997 points higher, while the Nifty gained 306 points.Hopes of a stimulus package over the week-end also helped sentiments.

Tata Motors, UPL, Vedanta, ONGC, Vedanta and Hindalco were the top gainers in trade.

Media stocks ended the day weak with losses in TV Today, Sun TV Network and Zee Entertainment. Shares in Bandhan Bank was a star performer today. In fact, the bank stock the highest level in a month and surged 12 per cent in trade today. Shares in Jagran Prakashan fell after the company's promoters created a pledge on their shares.

Shares in RBL Bank gained on reports that BNP Paribas Arbitrage fund acquired 29.79 lakh shares or 0.59 percent stake in the lender on Wednesday at Rs 125.42 per share.

Meanwhile, most Asian markets ended the day with solid gains, while Europe was trading marginally higher.

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