5 Reasons Why Sensex Jumped 505 Points Today

Indian share markets continued momentum and ended their session on a strong note today.

The Sensex rallied over 500 points and the Nifty topped 13,100-mark boosted by the better than expected GDP data.

At the closing bell, the BSE Sensex stood higher by 505 points (up 1.2%).

The NSE Nifty closed higher by 140 points (up 1.1%).

GAIL and Sun Pharma were among the top gainers today.

The SGX Nifty was trading at 13,146 levels, up by 153 points, at the time of writing.

The BSE Mid Cap index ended up by 0.9%. The BSE Small Cap index ended up by 0.8%.

All sectoral indices ended in the green with stocks in the realty sector, IT sector, and telecom sector witnessing maximum buying interest.

Asian stock markets ended on a positive note. As of the most recent closing prices, the Hang Seng ended up by 0.9% while the Nikkei ended up by 1.3%.

The rupee is trading at 73.65 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.5% at Rs 48,101 per 10 grams.

Here are the Top 5 Reasons Behind Today's Share Market Rally

Positive News on Covid-19 Vaccine: According to top government officials, some Americans could begin receiving vaccinations before Christmas. Moderna Inc has sought US emergency authorization for its Covid-19 vaccine after a late-stage study showed it to be 94.1% effective, with no serious safety concerns.

Global stock markets edged higher today after robust China data boosted expectations of a recovery from the Covid-19 downturn and as drugmakers seek fast approval for their vaccines.

US stock futures also pointed to a strong start on Wall Street with investors focusing on November manufacturing surveys from Europe and the United States.

GDP Growth: Sentiment got a boost as India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5% in Q2. The GDP had contracted by a record 23.9% in the June quarter of FY21.

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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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