US indices recovery after Thursday carnage, Dow up 700

Mumbai, March 13 (IANS) Stock markets in the US traded in the green on Friday, after registering massive decline in their previous trading session, with the Dow Jones Industrial Average rising around 700 points. Currently, Dow is trading at 21,898.69, higher by 698.07 points or 3.29 per cent from its previous close.
The S&P500 is trading higher by 77.64 points or 3.13 per cent at 2,558.28. On Thursday, US stock indices registered their worst ever performance since 1987. Both the major indices had triggered a circuit breaker by falling 7 per cent due to the concerns over the coronavirus pandemic.
Investor sentiments were supported by reports that US administration and the House Democractic leadership may announce an agreement on an aid package to counter the impact of coronavirus.
The Indian stock markets also ended around 4 per cent higher on Friday registering the biggest ever recovery in its history. The BSE Sensex closed at 34,103.48, higher by 1,325.34 points or 4.04 per cent from the previous close of 32,778.14.
It recovered over 4,700 points from its day’s low to touch an intra-day high of 33,917.47. It had touched intra-day low of 29,388.97 during the initial trade.
This was the biggest ever recovery by the Indian stock markets in a single day. The NSE Nifty50 ended at 9,955.20, higher 365.05 points, 3.81 per cent from its previous close.

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