5 Reasons Why Sensex Surged 617 Points Today

After staging a gap-up opening, Indian share markets witnessed positive trading activity throughout the day today and ended on a strong note.

Benchmark indices extended their winning streak into the sixth straight session with both Sensex and Nifty ending at record closing highs.

At the closing bell, the BSE Sensex stood higher by 617 points (up 1.2%).

The NSE Nifty closed higher by 192 points (up 1.3%).

M&M and Bajaj Finserv were among the top gainers today.

The SGX Nifty was trading at 15,140, up by 194 points, at the time of writing.

Both, the BSE Mid Cap index and the BSE Small Cap index ended higher by 1.5%.

On the sectoral front, gains were largely seen in the metal sector, automobile, and IT sectors.

Asian stock markets ended higher today. As of the most recent closing prices, the Hang Seng ended up by 0.2% and the Shanghai Composite ended up 1%. The Nikkei ended higher by 2.1%.

US stock futures are trading higher today indicating a positive opening for Wall Street indices. Nasdaq Futures are trading up by 49 points (up 0.4%), while Dow Futures are trading up by 102 points (up 0.3%).

The rupee is trading at 72.94 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.1% at Rs 47,313 per 10 grams.

Here are the Top 5 Factors Why Indian Share Markets Rallied Today

Firm Global Cues: Asian share markets hovered near record highs on hopes a US$ 1.9-trillion COVID-19 aid package will be passed by US lawmakers this month just as coronavirus vaccines are being rolled out globally.

Recovering Economy: Last Friday, the Reserve Bank of India (RBI) said India's economy was coming back on track. With the beginning of the vaccination drive, economic growth was likely to pick pace, the central bank said sharing the outcome of its bi-monthly monetary policy committee meeting.

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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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