Sensex ends 415 points higher after RBI announces liquidity facility for mutual funds

The domestic stock markets surged on Monday, with a major contribution from financial stocks after the Reserve Bank of India announced a Special Liquidity Facility (SLF) for Mutual Funds worth Rs 50,000 crore.

The S&P BSE Sensex jumped 515 points, or over 1.6 per cent, to 31,840 levels and the Nifty50 index surpassed 9,300 levels. All the Nifty sectoral indices were in the green, led by Nifty Bank index, up 3 per cent.

Asian stock markets gained after Japan's central bank promised more asset purchases to shore up financial markets and more governments prepared to revive struggling economies by reopening businesses. Tokyo's benchmark surged 2.8 per cent and Shanghai, Hong Kong and Sydney also gained.

Add WION as a Preferred Source

Meanwhile, The Reserve Bank of India on Monday announced a special liquidity facility of Rs 50,000 crores for mutual funds in the wake of the winding up of six debt funds by Franklin Templeton.

(With inputs from agencies)