Sensex surges over 500 points; FMCG, auto stocks gain

FAST MONEY DCB Bank Oberoi Realty among top 10 intraday tips for today's trade

Bharti Airtel, ITC Limited and the National Thermal Power Corporation were the top gainers in the two indices.

Brokers said fresh buying by investors and foreign funds amid a firm trend in other Asian bourses improved market sentiment.

The gains followed Wall Street, where the Dow jumped 1.77 percent, while the S&P 500 gained 1.74 percent on Friday.

The broader NSE Nifty rose 96.10 points, or 0.93 percent, to 10,322.95.

After opening on a strong footing, the Sensex gained 610.80 points (1.83%) to close at 33,917. "The fear of global trade war is somewhat factored in the market while, increase in U.S. payroll data suggest stability in the economy, which boosted the global trade", Vinod Nair, Head of Research, Geojit Financial Services Ltd said. Japan's benchmark Nikkei 225 is up 2.1 per cent, Hong Kong's Hang Seng too is up 1.5 per cent and Shanghai Composite is marginally up with gains of 0.3 per cent at 7.04 hours IST. The Nifty Midcap index was up 1 percent despite balanced market breadth.

However, shares of Karnataka Bank (down 0.39 per cent) and South Indian Bank (down 0.20 per cent) were slightly down around that time.

In the global markets, a relief rally swept across Asian share markets after the latest USA jobs report managed to impress with its strength while also easing fears of inflation and faster rate hikes.

Market participants will keep a close eye on domestic macro-economic data releases.

Among the sectoral indices, PSU banks and metal led the retreat, registering 1.8 per cent losses while media, FMCG and IT remained marginally positive.

Related:

Comments


Other news