The Trump government has announced a historic package of 2 lakh crore crore. The relief package will provide direct payments to most U.S. citizens. Since this announcement, the sentiment of markets across the world has been strengthened. Given the corona virus outbreak, the domestic market is also expecting large booster doses from the government. As of now, the domestic stock market has seen a spectacular spurt. In intra-day trading, the Sensex strengthened by 2000 points, while nifty gained more than 500 points, surpassing the 8300.
Amid fluctuations the domestic stock market closed with spectacular momentum. At the end of today’s trading, the Sensex gained nearly 18,612 points to close at 28,535.78. The Nifty rose 497 points to close at 8,297.80. Shares of Reliance Industries and Maruti witnessed a good spurt in today’s trade. RIL had the biggest 11-year spurt in intraday and strengthened by 21 per cent. In the end, it closed down 14 per cent stronger. Kotak Bank and Maruti were also up more than 12 per cent. HDFC Bank strengthened 12 per cent to HDFC 9 per cent.
According to CNBC voice sources, a special relief package for hotels and tourism could be announced. The aviation sector can also be given a package of Rs 12,000 crore. The textile sector has been announced today and the government has extended the tax exemption on garment exports. Interglobe Aviation has gained 10 per cent in today’s business, hoping to get a package for the aviation sector. In the hotel and tourism sector, royal archied, Taj GVK and ITDC gained a spectacular momentum.
Economic package announced in the U.S.
The Trump government has announced a historic package of 2 lakh crore crore. The relief package will provide direct payments to most U.S. citizens. Every adult will be given one time $1200 and children $500. At the same time, $367 billion will be provided for small business so that their employees who are forced to stay home can get a salary. Big industries will be given cheap loans. Hospitals will also be given necessary support.
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