- India beat Bangladesh by four wickets to win Nidahas T20 Tri-Series
- Piyush Goyal junks report suggesting airline-like dynamic pricing in railway
- Bypoll defeats no referendum on BJP policies, programmes: Yogi
- NDA messed up economy, mismanaged JK: Manmohan Singh
- Putin eyes fourth term as Russians go to polls
- 3 AIIMS doctors enroute to Agra killed in accident on Yamuna e-way
- Five civilians killed in Pakistan firing on LoC
Sensex zooms 611 pts, Nifty above 10,400 on global, domestic factors
With the growing optimism of global lead and domestic factors, including macroeconomic data, BSE benchmark index Sensex on Monday spurted by 611 points — the biggest single-day gain in two years. The market insiders said the index finished at one-week high of 33,917.94 following a global relief rally as trade war fears abated on growing optimism over the US economy. The broader Nifty also finished at 10,421.40, up 194.55 points with 47 of its components closing with gains.
Investors lapped up recently battered metal, oil & gas, FMCG, banking, power, infrastructure, IT, auto, and capital goods stocks amid fresh capital inflows by foreign funds ahead of key IIP and inflation data that was to be released after market hours on Monday, brokers said.
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.
However, later it gave up some of the gains but still ended up by 610.55 points, or 1.83 per cent, at one-week high of 33,917.94. The index posted its biggest single-day gain since March 1, 2016, when it had jumped 777.35.
The broader Nifty finished at 10,421.40, up 194.55 points, or 1.90 per cent with 47 of its components closing with gains. It touched a high of 10,433.65 points in day trade.
Bharti Airtel rose the most by 4.68 per cent among Sensex scrips its board approved raising up to Rs 16,500 crore for refinancing debt and paying for spectrum liabilities.
Index major ITC surged 4.09 per cent after cigarette cess was kept unchanged at the GST Council meet.
Other prominent gainers included Tata Steel, Axis Bank, ICICI Bank, Yes Bank, Adani Ports, ONGC, Wipro, IndusInd Bank, HDFC, Infosys, RIL, HUL, L&T, Sun Pharma, Kotak Bank, Dr Reddy's, HDFC Bank, TCS and Asian Paints.
Auto stocks rose after domestic passenger vehicle sales increased by 7.77 per cent to 2,75,329 units in February. Tata Motors rose by 3.07 per cent, Hero MotoCorp 2.75 per cent, Maruti Suzuki 1.69 per cent, M&M 1.02 per cent and Bajaj Auto 0.75 per cent.
“Firm global cues and expectation of ease in domestic inflation to 4.74% excited investors to utilise the bargain opportunity. The fear of global trade war is somewhat factored in the market while, increase in US payroll data suggest stability in the economy, which boosted the global trade,” Vinod Nair, Head of Research, Geojit Financial Services Ltd said.
- Mcap of 6 of 10 most valued cos drops by Rs 52,000 crore 19 Mar 2018 | PTI
- Hindustan Infralog acquires 90% stake in Continental Warehousing 19 Mar 2018 | PTI
- Mining ban to affect India's competitiveness in international market, say ind stakeholders 19 Mar 2018 | PTI
- Tata Motors plans to drive in new products to expand mkt presence 19 Mar 2018 | PTI
- PwC suggests timebound dispute resolution under GST 19 Mar 2018 | Manoj Raghvanshi
- Electric car ind needs practical strategy: Report 19 Mar 2018 | PTI
- New NPA rules: Power producers' body accuses RBI of overruling House panel 19 Mar 2018 | PTI
- AAI prepares for higher capex; eyes Rs 1,500 cr loans 19 Mar 2018 | PTI
- TRAI to revamp MNP process; discussion paper by month-end 19 Mar 2018 | PTI
- Anti-dumping duty imposed on Ofloxacin import from China 19 Mar 2018 | PTI
Sunday EditionView All
18 Mar 2018 | PNS
AAI conducts international workshop for utilizing GAGAN In keeping with the Prime Minister’s objective of using technology as a means of development and co-operation, Airports Authority of India has now offered GPS-aided Geo Augmented Navigation (GAGAN) to SAARC and Southeast Asian countries in order to allow them to reap the significant benefits that accrue from such an advanced navigation system. AAI conducted a two-day workshop on March 15 and 16, 2018...
STATE EDITIONSView All
19 Mar 2018 | Staff Reporter | Bhopal
Leader of the Opposition in the state assembly Ajay Singh said that the claims of women well-wisher Chief Minister Shivraj Singh are deceiving as miscreants with minor offences are arrested with immediate effect, but in the matter related to a minister's son, Chouhan says enquiry would be conducted He further alleged that prime facie, minister's son was responsible for Preeti Raghuvanshi’s suicide. Chief Minister Shivraj Singh Chouhan today instructed police officials to...