Sensex Zooms 521 Points, Nifty Ends Above 14,850; JSW Steel & Tata Steel Rally Over 6%

Indian share markets witnessed positive trading activity throughout the day today and ended on a strong note.

Benchmark indices extended gains and ended at a day's high led by strong gains in metal and pharma stocks. The BSE metal index surged over 5%.

Investors welcomed Joe Biden's economy-boosting infrastructure proposals while a healthy US private jobs report also boosted optimism.

At the closing bell, the BSE Sensex stood higher by 521 points (up 1.1%).

Meanwhile, the NSE Nifty closed higher by 177 points (up 1.2%).

IndusInd Bank and JSW Steel were among the top gainers today.

HUL and Nestle, on the other hand, were among the top losers today.

The SGX Nifty was trading at 14,920, up by 170 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1.7% and 2.1%, respectively.

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

Shares of Tata Steel and Adani Gas hit their respective 52-week highs today.

Market participants were tracking SBI share price as customers of India's biggest bank are reportedly facing issues while trying to push through online transactions.

Asian share markets ended higher today, tracking positive global cues.

Both, the Shanghai Composite and the Nikkei ended up by 0.7%. The Hang Seng zoomed 2%.

European stock markets kicked off the new quarter with gains as optimism around a new US government spending plan and strong factory activity data out of the eurozone eclipsed concerns about another lockdown in France.

US stock futures are trading higher today indicating a positive opening for Wall Street indices with Dow Futures trading up by 27 points (up 0.1%).

The rupee is trading at 73.40 against the US$.

Gold prices are trading up by 0.1% at Rs 44,698 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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