4 Reasons Why Sensex Surged 750 Points Today

Indian share markets witnessed positive trading activity throughout the day today and ended on a strong note.

Benchmark indices rebounded amid broad-based buying after they suffered their biggest one-day drop last week on Friday.

At the closing bell, the BSE Sensex stood higher by 750 points (up 1.5%).

The NSE Nifty closed higher by 232 points (up 1.6%).

Power Grid and ONGC were among the top gainers today.

The SGX Nifty was trading at 14,795, up by 235 points, at the time of writing.

The BSE Mid Cap index ended up by 1.5%, and the BSE Small Cap index ended up by 1.6%.

On the sectoral front, gains were largely seen in the automobile sector, metal sector, and power sector. Telecom stocks, on the other hand, witnessed selling pressure.

US stock futures are trading firm today indicating a positive opening for Wall Street indices. Nasdaq Futures are trading up by 183 points (up 1.4%), while Dow Futures are trading up by 323 points (up 1%).

The rupee is trading at 73.54 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.6% at Rs 45,989 per 10 grams.

Gold edged higher today, recovering from an eight-month low touched in the previous session, as a weaker dollar lifted bullion's appeal.

Physical gold demand in India gained momentum last week as retail buyers and jewelers lapped up bullion at near eight-month low prices, while Singapore continued to see steady interest for both gold and silver.

Here are the Top 4 Factors Why Indian Share Markets Rallied Today

Firm Global Cues: Asian share markets bounced back following their worst drop in almost a year last week after a spike in global bond yields spooked investors already uneasy about the market's stretched valuation.

Japan's Topix Index jumped the most in seven months, as a pause in selloffs in US treasuries boosted the tech-heavy Nasdaq index and lifted domestic shares of chipmakers.

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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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