Sensex Ends 641 Points Higher; Hindustan Unilever & NTPC Among Top Nifty Gainers

Indian share markets rebounded sharply from day's low today with both the benchmarks Sensex and Nifty trading over 1.3% higher led by strong gains in FMCG, metals, and banking stocks.

Sentiment got a boost after the US 10-year bond yield dipped sharply to 1.67% versus yesterday's high of 1.75%.

Buying was also seen after Moody's Analytics said India's economy is likely to grow by 12% in 2021 following a 7.1% contraction last year, as near-term prospects have turned more favorable.

In the global financial markets, the Bank of Japan today maintained its negative interest rate and tweaked its monetary easing program as it battles to boost inflation and shore up the pandemic-hit economy.

European stock markets slid at the open today, following sharp losses in Asia and overnight on Wall Street due to escalating fears that high inflation could hinder economic recovery from the pandemic.

At the closing bell, the BSE Sensex stood higher by 641 points (up 1.3%).

Meanwhile, the NSE Nifty closed higher by 186 points (up 1.3%).

Hindustan Unilever and NTPC were among the top gainers today.

Tech Mahindra, on the other hand, was among the top losers today.

The SGX Nifty was trading at 14,747, up by 152 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1.4% and 0.4%, respectively.

On the sectoral front, gains were largely seen in the power sector, energy sector, and FMCG sector.

Realty stocks, on the other hand, witnessed selling pressure.

Market participants were tracking shares of KPR Mill and Persistent Systems as they hit their respective 52-week highs today.

Asian share markets ended on a negative note today.

The Shanghai Composite stood lower by 1.6%, while the Nikkei ended down by 1.4%. The Hang Seng ended down by 1.4%.

US stock futures are trading higher today indicating a positive opening for Wall Street indices with Dow Futures trading up by 36 points (up 0.1%).

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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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