Home ยป The Sensex gained over 500 points in early trade; Nifty above 15,100

The Sensex gained over 500 points in early trade; Nifty above 15,100

The BSE Sensex was trading up 509.07 points or 1.01% at 50,950.14; NSE Nifty was up 149.35 points or 1% at 15,105.55.

The index benchmark Sensex rose more than 500 points in the opening trade on 9 March, with tracking gains in the index Major HDFC twins, ICICI Bank and Reliance Industries among mixed signals from global markets.

The 30-share BSE index was up 509.07 points or 1.01% to trade at 50,950.14, and the NSE Nifty was up 149.35 points or 1% at 15,105.55.

HDFC Bank topped the Sensex pack by 2%, followed by UltraTech Cement, Bajaj Finance, HDFC, M&M, Tech Mahindra and Asian Paints.

On the other hand, ONGC and Powergrid lagged behind.

The Sensex rose 35.75 points or 0.07% to 50,441.07 in the previous session and the Nifty gained 18.10 points or 0.12% to close at 14,956.20.

Foreign institutional investors were net sellers in the capital market, according to exchange data, on March 8, .4 1,494.49 crore worth of shares.

There may be a near-term risk to rising crude prices, a rise in bond yields in the US, and a weak weak domestic equity, which has resulted in an outflow of FPIs in recent times.

Binod Modi Head-Strategy of Reliance Securities said, “We believe that the recent increase in bond yields is bringing rapid improvement in economic growth.”

In the US, equity ended on a mixed note in overnight trading on Monday. “Clearly, the US markets are being driven by aggressive financial spending and the anticipation of a rapid economic recovery due to the rapid reopening of the economy, which may also curb inflation,” Mr Modi said.

Elsewhere in Asia, the boroughs in Hong Kong and Tokyo were trading on a positive note in mid-session deals, while Shanghai and Seoul were in the red.

Meanwhile, global oil benchmark Brent crude was up 0.94% at $ 68.88 a barrel.

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