Sensex soars 600 points on global cues |
Equity markets on March 13, 2018, turned encouragingly buoyant as Sensex posted its biggest gain in intra-day trade since March 2016. The BSE index gained 610.80 points to close at 33,917.94, while the broader 50-share NSE Nifty went up by 197.05 points to finish trading at 10,423.90. Both the benchmark indices gained 2 per cent during the day. The surge in the market came as a result of a combination of factors in the global as well as domestic markets. The investors factored in a favourable showing in the inflation and factory output data. On the other hand, global markets rallied after the US data indicated that non-farm payrolls jumped from last month, but annual growth in average hourly earnings slowed after a spike in January, easing fears of inflation. Analysts said that the six-day losing streak that had gripped the markets last week, facilitated investors to indulge in some lo-level buying. On Monday, the markets had started trading on a positive note with Sensex recording a jump of more than 300 points. As the day progressed, the gains got extended with the FMCG and metal stocks leading the rally. The respective sectoral sub-indices gained more than 2.50 per cent each.
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