Published: Mon, March 12, 2018
Finance | By Loren Pratt

Sensex, Nifty climb almost 1% on positive global cues

Sensex, Nifty climb almost 1% on positive global cues

The 50-share NSE Nifty saw the biggest single day percentage gains for the first time in last 22 months, up 194.50 points or 1.90 percent at 10,421.40. Firm trend in other Asian markets and higher opening in European bourses, following a good show by Wall Street on Friday, lifted investors' mood in domestic markets.

Major gainers were ITC, Tata Steel, Sun Pharma, Infosys, Wipro, Adani Ports, Bharti Airtel, HDFC, RIL, IndusInd Bank, M&M and L&T, rising up to 2.74. The Dow Jones Industrial Average rose 440.53 points, or 1.77 per cent, to end at 25,335.74, the S&P 500 gained 1.74 per cent and the Nasdaq Composite added 132.86 points, or 1.79 per cent, to 7,560.81.

A total of 10 stocks registered a fresh 52-week high in trade today, while 1,066 stocks touched a new 52-week low.

Bulls were back with vengeance to cover the lost ground at Dalal Street on Monday as benchmark indices gained almost 2 percent, driven by global rally after better-than-expected USA jobs data.

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

Crude check: Brent crude, the benchmark for more than half the world's oil, gained 0.46 percent at $65.79 per barrel while the West Texas Intermediate crude advanced 0.35 percent at $62.26 a barrel, on Monday morning.

However, shares of Karnataka Bank (down 0.39 per cent) and South Indian Bank (down 0.20 per cent) were slightly down around that time.

China data: China's industrial production, retail sales and fixed-asset investment numbers will be released on Wednesday and are are likely to point to slower growth, according to Bloomberg Economics forecasts.

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