4 Reasons Why Sensex Ended 568 Points Higher Today

Here are Top 4 Factors Why the Stock Market Were Up Today:

Positive Macro Data in the US: Better than expected US GDP data and a decline in the unemployment claims boosted stock market sentiment.

The number of Americans filing new claims for unemployment benefits dropped to a one-year low last week as economic activity rebounds after weather-related disruptions in February.

Gross domestic product increased at a 4.3% annualized rate, the Commerce Department said in its third estimate of fourth-quarter GDP growth.

Positive Global Cues: Major global markets rose today and the positive sentiment spilled to the Indian bourses too.

Asian stocks recovered from a three-month low, as investors focused more on optimism about the global economic recovery than rising tensions between the West and China.

Covid-19 Vaccination Picks Pace: With vaccination picking pace, market sentiment got a boost. Market participants took cues from this development and the indices witnessed buying interest.

Sectoral Gains: Market participants bought shares across the board after the recent correction bought valuations down. Auto, banking, financials, telecom, FMCG, and IT - all indices witnessed strong gains today.

We will keep you updated on how these factors develop in the coming days and what effect they have on Indian stock markets. Stay tuned!

In news from the realty sector...

Real estate developers have urged the government of Maharashtra to extend the prevailing stamp duty rebate that expires on March 31, 2021, by a year, saying that the move had improved homebuyer sentiment and increased property registrations.

In a letter presented to Balasaheb Thorat, Revenue Minister, Maharashtra Government, CREDAI MCHI, a leading real estate body with over 1,800 member developers, said that the state government must extend the prevailing stamp duty rebate by 12 months until March 31, 2022.

It said that the move had "substantially improved homebuyer sentiments and property registrations, led to higher job creation and tax collections for the state. It has created a positive cascading effect enabling the industry to take a lead in the revival of Maharashtra's economy."

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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