Indian BSE Sensex shines, Nifty reclaims 9,000 mark | Bitcoin also rises

Indian stock markets maintained their gains on the last trading day of the week, as Dalal Street will remain closed on Friday. Pharma stocks emerge to be the biggest gainers. Bitcoin maintains its consolidation phase and is hovering around the $7,300 mark.

Trading week in the Indian stock markets is cut short due to two national holidays falling on the same week. Major stock indexes opened up on Thursday. As per the Indian Standard time, it has been two hours of market opening, and the gains have been steady so far.

  • Nifty 50 is up by 2.5% and is going steady at 8960.2.
  • BSE Sensex has gained 2.29% and rose by almost 700 points. 

 

Stocks that are in focus:

  • Cipla has gained almost 12% and is currently at Rs. 574.5.
  • Sun Pharma is up by 5.34% and is trading at Rs. 460.
  • Carmaker Maruti is showing gains after a prolonged period of declines. It has gained 6.84% since open on Thursday.

US stock markets ended in significant gains on Wednesday amid optimism regarding the peaking of the COVID-19 pandemic. A similar fate was observed by various other financial markets around the world.

 

Nifty reclaims the 9,000 mark

The significant 9,000 mark that the Nifty 50 Index crossed on Thursday is massively positive news among Indian investors. Pharma stocks are yet again the highlight of the day. In this fight against the pandemic, the Pharmaceutical Industry is a significant contributor. 

 

Bitcoin maintains its gains

BTCUSD crossed the $7,300 earlier in the day. And it has been hovering around this price range for the past few days. There are a few reasons why Bitcoin investors might be holding back before making any large bets. These are:

  • Bitcoin has risen with the equity markets lately. However, it is backed only by sheer optimism and nothing else.
  • The halving of rewards for the miners is near. And as that day approaches, the BTCUSD is going to be volatile.
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