Equity indices notched up smart gains on the last day of 2019-20 but ended deep in the red for the fiscal as the coronavirus pandemic triggered record-shattering selloffs in March.
The 30-share BSE Sensex traded in the positive zone throughout the session, ending 1028.17 points, or 3.62 per cent, higher at 29468.49 on across-the-board buying.
Similarly, the NSE Nifty rose 316.65 points, or 3.82 per cent, to close at 8597.75. During 2019-20, the Sensex plunged 9204.42 points, or 23.80 per cent, while the Nifty sank 3026.15 points, or 26.03 per cent.
Both the benchmarks posted their biggest ever one-day falls in March, in tandem with other global markets, as investors fled risky assets amid the Covid-19 outbreak.
According to traders, domestic investors turned positive amid a rebound in global peers as most Asian benchmarks ended higher on a recovery in China’s manufacturing in March as authorities allowed factories to reopen.
“Mirroring positive global markets, Indian markets reacted positively on the last day of the financial year. Almost all sectoral indices were up and volatility index was also down by 10 per cent,” said Vinod Nair, head of research at Geojit Financial Services.
Shares of IndusInd Bank on Tuesday slumped 15 per cent in an otherwise firm market after the lender said deposits fell 10-11 per cent and brokerages flagged concerns about its near-term asset quality.
The bank’s scrip settled at Rs 351.15 on the BSE, a drop of Rs 60.40 or 14.68 per cent.