6 Reasons Why Sensex Rallied 834 Points Today

After staging a gap-up opening, Indian share markets extended gains as the session progressed and rallied nearly 2%, boosted by realty and finance stocks.

Benchmark indices registered sharp gains today after a massive selloff in the past two days as the incoming US administration pushed for a big stimulus.

At the closing bell, the BSE Sensex stood higher by 834 points (up 1.7%). In intraday trade, the Sensex zoomed 936 points to 49,500 levels.

The NSE Nifty closed higher by 240 points (up 1.7%).

Bajaj Finserv and Bajaj Finance were among the top gainers today.

The SGX Nifty was trading at 14,565, up by 277 points, at the time of writing.

The BSE Mid Cap index ended up by 2.3%. The BSE Small Cap index ended higher by 1.7%.

On the sectoral front, gains were largely seen in the finance sector, realty sector, and metal sector.

Asian stock markets ended higher today. As of the most recent closing prices, the Hang Seng ended up by 2.7% and the Shanghai Composite ended down 0.8%. The Nikkei rose 1.4%.

US stock futures are trading higher today indicating a positive opening for Wall Street indices. Nasdaq Futures are trading up by 119 points (up 0.9%), while Dow Futures are trading up by 126 points (up 0.4%).

The rupee is trading at 73.16 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.2% at Rs 48,990 per 10 grams.

Here are Top 6 Factors Why Indian Share Markets Rallied Today

Firm Global Cues: Asian stock markets rose today after data showed China's economy was one of the few to grow in the year 2020. China's economy grew 2.3% in 2020 while the United States, Europe, and Japan struggled in the wake of the coronavirus pandemic.

Europe backs Money Printing: Eurozone finance ministers pledged continued fiscal support for their economies and discussed the design of post-pandemic recovery plans as the European Commission warned the Covid-19 crisis was making the bloc's economic imbalances worse.

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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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