Indian shares rallied on Monday, with underlying sentiment supported by firm global cues and data showing the Indian economy has reversed technical recession in 3QFY2.
Encouraging auto sales data for February and the IHS Markit survey highlighting a strong improvement in manufacturing operating conditions during the month also boosted optimism about the economic recovery.
The benchmark S&P BSE Sensex hit as high as 50,058.42 during intraday deals before ending the session up 749.85 points, or 1.53 percent, at 49,849.84.
The broader NSE Nifty index settled 232.40 points, or 1.60 percent, higher at 14,761.55.
Shree Cement, UPL, Grasim, ONGC and Power Grid Corp surged 4-7 percent in the Nifty pack, while Bharti Airtel tumbled 4.3 percent after the launch of a new Jio Phone 2021 with a new design and interesting offers.
Vodafone Idea dropped 1.8 percent as the latest offer from Mukesh Ambani’s telecom venture weakened the prospects of a tariff hike in the near term.
Market Analysis
Sensex Rises 750 Points On Global Cues; Nifty Gains 232 Points
2021-03-01 11:05:03
