Sensex soars 600 points on global cues, macroeconomic data


Around 1 p.m., the wider Nifty50 of the National Stock Exchange (NSE) rose by 100.80 points, or 0.99 per cent, to trade at 10,327.65 points.

Last week, a sudden sell-off during the last hour of trade trimmed Friday's entire gains and led the equity indices to close on a flat note with marginal losses.

Brokers said fresh buying by investors ahead of inflation data improved the market sentiment.

Industrial production data for January, retail inflation or inflation data based on CPI and inflation data based on Wholesale Price Index (WPI) for February will be released this week.

The BSE Sensex surged over 300 points in early trade and the Nifty reclaimed the 10,300-level on fresh capital inflows by foreign funds ahead of key IIP and inflation data to be released after market hours on Monday. "However, mid and small cap witnessed reluctance due to high valuation".

Sensex soars 600 points on global cues, macroeconomic data
Sensex soars 600 points on global cues, macroeconomic data

Indian shares opened sharply higher on Monday, tracking firm global markets as geopolitical tensions eased and the latest report stoked optimism about global growth.

All the sectoral indices, led by telecom, FMCG, IT, metals and oil & gas, were trading in the green, with gains of up to 1.75% at 2.00 pm. The top gainers on the Sensex were Bharti Airtel, NTPC, ITC, Tata Motors and Tata Steel while on the flip side; Coal India, IDBI, PFC, FConsumer and Andhra Bank were the top losers.

Some global markets on Monday rose at least one per cent following similar gains in the USA on Friday, including a record close for the Nasdaq Composite at 1.79 per cent that followed a strong report.

Non-farm payroll data released in the U.S. last Friday showed a strong growth of 313,000 jobs.

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