Published: Mon, March 12, 2018
Business | By Kate Woods

Sensex, Nifty climb almost 1% on positive global cues

Sensex, Nifty climb almost 1% on positive global cues

The BSE benchmark Sensex today posted its biggest intra-day gain in almost two years by surging over 600 points to close at 33,917.94.

Bharti Airtel, ITC, Tata Motors, Infosys, NTPC were among the top gainers, rising up to 3.59%.

After opening on a strong footing, the Sensex advanced to hit a high of 33,962.48 on the back of fresh buying by domestic funds and retail investors.

The gains followed Wall Street, where the Dow jumped 1.77 percent, while the S&P 500 gained 1.74 percent on Friday.

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Equity markets on Monday turned encouragingly buoyant as Sensex posted its biggest gain in intra-day trade since March 2016.

The broader Nifty finished at 10,421.40, up 194.55 points, or 1.90 percent.

In the Asian region, Hong Kong's Hang Seng was up 1.68 percent and Shanghai Composite Index rose 0.75 percent, while Japan Nikkei edged higher by 1.72 percent in early trade. Investors awaited February CPI inflation and January industrial output data due later today.

On Friday, the three major United States stock indices climbed nearly 2 per cent and the Nasdaq closed at a record high, as February's jobs report assuaged fears of inflation and aggressive interest rate hikes.

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Market participants will keep a close eye on domestic macro-economic data releases. Both the benchmark indices gained 2 per cent during the day.

Among other sectoral indices, oil & gas, FMCG, Power, Bankex, Infrastructure, Teck, Auto, IT, Capital Goods, PSU, Healthcare, Consumer Durables and Realty rose up to 2.13 per cent.

However, the BSE market breadth was bearish with 1,384 declines and 1,281 advances.

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