Sensex Ends 447 Points Higher; Automobile & IT Stocks Rally

Indian share markets witnessed buying interest during closing hours and ended today's volatile session higher.

Benchmark indices ended on a strong note amid positive cues from Asian peers and a record close by S&P 500, as global worries around inflation calmed down.

GST collection numbers further indicated some positive trend with GST revenues over Rs 1 lakh crore for the 5th time in a row. Post hitting a new high in terms of GST collections in January 2021, the collections in February 2021 too, were 7% higher YoY.

At the closing bell, the BSE Sensex stood higher by 447 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 158 points (up 1.1%).

M&M and NTPC were among the top gainers today. ONGC and HDFC, on the other hand, were among the top losers today.

The SGX Nifty was trading at 14,975, up by 176 points, at the time of writing.

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

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

Paper stocks rallied today as China producers hiked prices.

Asian share markets fell today after a top regulatory official expressed concerns about the risk of bubbles bursting in foreign markets.

The Shanghai Composite stood lower by 1.2% while the Nikkei ended down by 0.9%. The Hang Seng ended lower by 1.2%.

European share markets are trading on a mixed note as investors sought to guess the bond market's next move, while weak German retail sales were a stark reminder of continued Covid-19 fallout on the region's biggest economy.

The dollar rose to its highest level in a month as underlying concerns about rising bond yields drove investors back into safe-haven assets.

The rupee is trading at 73.37 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.1% at Rs 45,359 per 10 grams.

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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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