5 Reasons Why Sensex Surged 1,147 Points Today

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

Benchmark indices rallied for the third consecutive day in a row today with the BSE Sensex trading above 51,000-mark again, while the Nifty 50 reclaimed its 15,100 levels.

At the closing bell, the BSE Sensex stood higher by 1,147 points (up 2.3%).

Meanwhile, the NSE Nifty closed higher by 326 points (up 2.2%).

Tata Steel and Bajaj Finserv were among the top gainers today.

Hero MotoCorp and Maruti Suzuki, on the other hand, were among the top losers today.

The SGX Nifty was trading at 15,283, up by 300 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1.5% and 1.3%, respectively.

On the sectoral front, gains were largely seen in the banking sector, metal sector, and energy sector.

The rupee is trading at 72.79 against the US$.

Gold prices for the latest contract on MCX are trading down by 1% at Rs 45,088 per 10 grams.

Here are Top 5 Factors Why Indian Share Markets Rallied Today

Firm Global Cues: Asian share markets were trading on a positive note today as investors shrugged off concerns of a rise in US Bond Yields last month, and focused more on the upcoming US Stimulus.

Asian share markets ended on a strong note today. The Shanghai Composite stood higher by 1.9% while the Nikkei ended up by 0.5%. The Hang Seng ended higher by 2.7%.

Encouraging GDP Numbers: Indian share markets also reacted to encouraging Q3 gross domestic product (GDP) data which showed signs that the economy is back on track.

India's GDP grew 0.4% in October to December, compared with a revised contraction of 7.3% in July to September.

Macro Data: A stable PMI data for February and strong GST collections for the month of February highlighted green shoots in the economy. The goods and services tax (GST) collection crossed the Rs 1 lakh crore mark for the fifth month in a row in February.

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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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