Equity benchmark Sensex rallied over 1,100 points in early trade on Tuesday as banks, IT and auto stocks led the gains on global cues.

After hitting a high of 28,963.25, the 30-share BSE barometer was trading 1,165.92 points or 4.23% higher at 28,756.87. The NSE Nifty soared 337.20 points, or 4.17%, to 8,421.00.

IndusInd Bank, Mahindra and Mahindra, HCL Tech, ICICI Bank, Axis Bank and Infosys were the top gainers in the Sensex pack. Bajaj Finance was the sole loser.

US President Donald Trump has said he would be surprised if India did not allow the export of Hydroxychloroquine tablets to the United States and there may be retaliation if the supply is not allowed.

Last week, Trump said that he had sought help from Prime Minister Narendra Modi to allow the sale of Hydroxychloroquine tablets, a decades-old malaria drug, as scientists explore its use in the treatment of COVID-19.

Indian authorities have partially lifted the ban on the export of Hydroxychloroquine which is being pushed by US President Donald Trump as a gamechanger for the treatment of COVID-19 patients.

The US has placed a huge order for hydroxychloroquine as the number of coronavirus cases rise in the country.

As confusion around the extension of the lockdown continues to trouble people, Telangana Chief Minister K Chandrasekhar Rao on Monday Prime Minister Narendra Modi to extend the lockdown beyond April 14 to so that the spread of coronavirus in India can be contained.

I'm requesting the PM to talk to all CMs and take a call to extend the nationwide lockdown up to the first week of June, otherwise we cannot control coronavirus pandemic. Even a small country like Singapore is extending lockdown for one more month. Ours is a huge country, Rao said.

The number of coronavirus cases worldwide has crossed 13 lakh with more than 74,000 deaths, according to the Johns Hopkins University tracker.

The tracker recorded 1,347,676 cases worldwide and 74,744 deaths. Out of the 13 lakh COVID-19 patients, 277,331 have recovered from the disease.

The United States, which has now become the epicentre of the coronavirus, recorded over 20,000 new cases and 1100 new deaths from COVID-19 between Sunday and Monday, according to the university tracker.

British Prime Minister Boris Johnson has been taken into intensive care after his coronavirus symptoms worsened on Monday, Downing Street has said.

UK foreign secretary Dominic Raab has taken charge as Johnson was moved to the ICU at St Thomas' Hospital in London on Monday.

Johnson was tested coronavirus positive ten days ago but remained home. He went to the hospital on Sunday night after he continued to have a fever despite self-isolating for more than the stipulated seven days.

The coronavirus death toll in the United States crossed 10,000 on Monday as the country entered what officials describe as the toughest week.

According to Johns Hopkins University's coronavirus tracker, there are 368,079 COVID-19 cases in the US and 10,923 deaths.

So far, 19,828 infected people have fully recovered.

Oil prices skidded on Monday after Saudi-Russian negotiations to cut output were delayed, keeping oversupply concerns alive, while stocks jumped as investors were encouraged by a slowdown in coronavirus-related deaths and new cases.

In currency markets, sterling fell after the British Prime Minister was admitted to the hospital following persistent coronavirus symptoms as the pandemic rapidly spreads.

The Central government has given a blanket approval to 13 states to immediately start procuring chana (gram) and masoor (lentil), the two big pulses grown during the rabi season. The Centre has also cleared Rs 1,250 crore for purchasing around 258,000 tonnes of both the pulses.

These 13 states won’t require any formal approval from the Centre before starting procurement. The states can start procuring up to 25 per cent of the produce immediately, without waiting for a formal clearance of their proposal from the Centre.

A pandemic that has so far claimed nearly 70,000 lives and has affected over 12.7 lakh people globally, putting almost half of the world's population under lockdown, is yet to be discussed by the United Nations in what is seen as a failure of the world body in a time of such an unprecedented crisis. This may, however, change soon with the United Nations Security Council (UNSC) likely to discuss the novel coronavirus outbreak this week.

The UNSC in its release on the this week's agenda has said that it could discuss the COVID-19 pandemic. A meeting this week on this issue is possible.

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