Taking Stock: PM Modi address to nation help recoup losses; Nifty closes below 9200 levels
Episode 2506, May 12, 2020, 11:43 AM
Bulls managed to help Nifty50 recoup some losses in the last one hour of the trading session on Tuesday but failed to push the index back in the green. The S&P BSE Sensex recovered more than 500 points from the low while Nifty50 closed just below 9200.
Announcement of PM address to the nation at 8 PM on Tuesday led to short covering in the last one hour of the trade, suggest experts. Hopes of the announcement of a fiscal package in or after the 8 Pm address by the PM today, raised hopes among market participants, they say.
Announcement of PM address to the nation at 8 PM on Tuesday led to short covering in the last one hour of the trade, suggest experts. Hopes of the announcement of a fiscal package in or after the 8 Pm address by the PM today, raised hopes among market participants, they say.