Mumbai: Indian stock markets witnessed a rally on Wednesday afternoon with the BSE Sensex rising 1,600 points. The Nifty50 on the National Stock Exchange also rose over 400 points to trade above the psychological mark of 8,000 points.
Market is now awaiting a stimulus package for the financial task force, headed by Finance Minister Nirmala Sitharaman, traders said. Bourses in Shanghai, Hong Kong, Tokyo and Seoul rallied up to 8 per cent.
Stocks on Wall Street rallied up to 11 per cent in overnight trade. Global oil benchmark, Brent crude futures rose 1.62 per cent to USD 27.59 per barrel.