FTSE 100 rallies as UK prepares to reopen economy, Sensex opens in green amid mixed global cues

<p>Boris Johnson announced that easing of lockdown goes ahead as planned on 12 April, giving recovery hopes to the markets</p> (PA)

Boris Johnson announced that easing of lockdown goes ahead as planned on 12 April, giving recovery hopes to the markets


London’s stock market rallied on Tuesday with the blue-chip FTSE 100 edging higher throughout trade, while the domestically focused FTSE 250 recovers to its pre-pandemic levels amid hopes of economic recovery and the easing of lockdown restrictions.

The FTSE 100 closed up 86 points, 1.3 per cent, at 6,824, while the FTSE 250 added 262 points, 1.2 per cent, to finish at 21,994 on Tuesday.

Cinema and pub shares were higher as the UK announced it will stick to its reopening plans allowing shops and pub gardens to open. Mining and travel stocks also witnessed a rise.

The pound took a hit, however, as sterling fell 0.5 per cent against the dollar and 0.7 per cent against the euro, with £1 buying $ 1.384 and €1.168 respectively shortly after the London market close.

Meanwhile, on Wednesday morning Asian markets saw a positive opening as markets in Japan and Korea opened in green. In Japan, the Nikkei 225 rose 0.35 per cent, though it saw a dip later. The Topix was up 0.6 per cent while South Korea’s Kospi added 0.47 per cent. Australia’s ASX 200 also advanced at 0.6 per cent.

However, Hang Sang which opened after a long weekend holiday witnessed a fall after early house as the index was trading with a low of around 200 points at noon.

The Indian benchmark indices opened in green but with minor gains on Wednesday amid mixed global cues. The Sensex opened 75.7 points, or 0.15 per cent higher at 49,277, while the Nifty opened at 14,716, up with 32.95 points, or 0.22 per cent.

India banking stocks saw a little dip with the country’s Reserve bank set to announce the monetary policy today, while other sectors opened flat or with minor gains.

The Dalal Street indices ended in green after a volatile day on Tuesday with Sensex 42 points higher at 49,201, and the Nifty ended 45 points higher at 14,683.