Indices keep rising on stimulus package hopes; IT, bank stocks spurt

The equity benchmarks marched higher for the second day on Thursday, helped by IT and banking stocks, as hopes of another stimulus package from the government bolstered investor sentiment amid the coronavirus overhang.

The Sensex surged 483.53 points or 1.54 per cent to close at 31,863.08, a six-week high. The Nifty advanced 126.60 points, or 1.38 per cent, to settle at 9,313.90.

Kotak Mahindra Bank was the top gainer in the Sensex pack, rallying 8.59 per cent, followed by TCS (5.97 per cent), Infosys (5.67 per cent), ICICI Bank (4.97 per cent), HCL Tech (3.61 per cent), and ONGC (2.98 per cent).

On the other hand, Titan, HUL, PowerGrid, NTPC and L&T were among the top laggards, shedding up to 4.18 per cent.