India Stocks Surge 20% From March Low, Set for Bull Market
A street stands empty near the Bombay Stock Exchange (BSE), center, during a lockdown imposed due to the coronavirus in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

India Stocks Surge 20% From March Low, Set for Bull Market

(Bloomberg) -- India’s stocks joined other Asian markets to enter a technical bull market on optimism that government steps will help contain the coronavirus outbreak and stimulus packages will ease the economic damage.

The benchmark Sensex jumped 4.4% as of 3:08 p.m. in Mumbai. That takes gains to 20% from its most recent low reached on March 23, an increase that some analysts consider as entering a bull market.

India has implemented the world’s biggest lockdown to contain the spread of the virus. The government unveiled a $22 billion fiscal stimulus package along with other support measures.

©2020 Bloomberg L.P.

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