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

FTSE jumps as the UK prepares to ease restrictions as planned

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

London’s stock market rallied on Wednesday, adding to gains in the previous trading session amid hopes of economic recovery and the easing of lockdown restrictions.

The blue-chip FTSE 100 rose 0.7 per cent to 6,868.59 while the domestically focused FTSE 250 also gained 0.7 per cent, surpassing to its pre-pandemic level, to trade at 22,141.51 by mid-morning.

That followed a gains of 1.3 per cent and 1.2 per cent for the indexes 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.

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 0.1 per cent, The Topix was up 0.7 per cent while South Korea’s Kospi added 0.47 per cent. Australia’s ASX 200 also advanced at 0.6 per cent.

However, the Hang Sang which opened after a long weekend holiday fell after early hours. The index was trading with a low of around 200 points at noon.

The Indian benchmark indices opened in the 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.