Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
March 19, Monday 2018 4:27 PM       

       HEADLINES: Non-priority ration cards to receive rice at subsidised rate                                              60-year old woman found hacked to death                                              There’s discrepancy in complaint filed with minister against me: Sabarinathan MLA                                              India-WI ODI shifted from Greenfield to Kochi                                              Railway track broken, Happa Express saved                                              Raj Thackeray calls for 'Modi-mukt Bharat' by 2019                                              Nirav Modi's assets seized by ED                                              LS, RS disrupted, protests continue                                              Putin wins another six years at Russia's helm in landslide victory                                              Russia dismisses ex-spy poisoning claims as 'nonsense'                                              PyeongChang Paralympics to conclude Sunday                                              Nidahas Trophy: Upbeat India to take on B'desh in final                                              Nidahas Trophy: Rahman helps B’desh post 166/8 against India                                              Aussies beat Indian eves by 97 runs to clean sweep series                                              Roger Federer makes it to Indian Wells finals                                              Kaumudi Facebook
       BUSINESS Next Article: Sensex rallies 301 pts ahead of IIP, inflation data  
       Sensex zooms the most in two yrs, Nifty above 10,400 on global relief rally
         Posted on :17:48:04 Mar 12, 2018
       Last edited on:17:48:04 Mar 12, 2018
         Tags: Sensex up 611 points, Nifty above 10,400

MUMBAI: The BSE Sensex Monday spurted by 611 points -- its biggest single-day gain in two years -- to finish at one-week high of 33,917.94 following a global relief rally as trade war fears abated on growing optimism over the US economy.

Investors lapped up recently battered metal, oil & gas, FMCG, banking, power, infrastructure, IT, auto, and capital goods stocks amid fresh capital inflows by foreign funds ahead of key IIP and inflation data to be released after market hours today, brokers said.

After opening on a strong footing, the Sensex advanced to hit a high of 33,962.48 on the back of fresh buying by domestic funds and retail investors.

However, later it gave up some of the gains but still ended up by 610.55 points, or 1.83 per cent, at one-week high of 33,917.94 . The index posted its biggest single-day gain since March 1, 2016, when it had jumped 777.35.

The broader Nifty finished at 10,421.40, up 194.55 points, or 1.90 per cent with 47 of its components closing with gains. It touched a high of 10,433.65 points in day trade.

Bharti Airtel rose the most by 4.68 per cent among Sensex scrips its board approved raising up to Rs. 16,500 crore for refinancing debt and paying for spectrum liabilities.

Index major ITC surged 4.09 per cent after cigarette cess was kept unchanged at the GST Council meet.

NTPC climbed 4.33 per cent after Moody's Investors Service has assigned a Baa2 rating to the proposed senior unsecured USD notes to be issued by NTPC Limited.

Other prominent gainers included Tata Steel, Axis Bank, ICICI Bank, Yes Bank, Adani Ports, ONGC, Wipro, IndusInd Bank, HDFC, Infosys, RIL, HUL, L&T, Sun Pharma, Kotak Bank, Dr Reddy's, HDFC Bank, TCS and Asian Paints.

Auto stocks rose after domestic passenger vehicle sales increased by 7.77 per cent to 2,75,329 units in February.

Tata Motors rose by 3.07 per cent, Hero MotoCorp 2.75 per cent, Maruti Suzuki 1.69 per cent, M&M 1.02 per cent and Bajaj Auto 0.75 per cent.

"Firm global cues and expectation of ease in domestic inflation to 4.74% excited investors to utilise the bargain opportunity. The fear of global trade war is somewhat factored in the market while, increase in US payroll data suggest stability in the economy, which boosted the global trade," Vinod Nair, Head of Research, Geojit Financial Services Ltd said.

Asian and European markets extended their last weekend's rally after a positive US jobs report that showed the American economy continued to strengthen without the prior month's rapid wage gains.

"Asian stocks boosted sentiment on the domestic bourses while global stocks gained as international trade-war concerns abated and were replaced by economic optimism following a stronger US jobs report released over the weekend," Karthikraj Lakshmanan, Senior Fund Manager - Equities, BNP Paribas Mutual Fund said.

Trading was brisk across global markets. Shanghai Composite gained 0.59 per cent, Singapore up 0.97 per cent, Hong Kong's Hang Seng edged higher 1.93 per cent and Japan Nikkei up 1.65 per cent.

European markets were higher in early trade, with Frankfurt's DAX rising 0.52 per cent and Paris CAC 40 up 0.14 per cent. London's FTSE rose 0.04 per cent.

Back home, the BSE metal index took the pole position among sectoral indices, rising 2.32 per cent as trade war fears ease and strength in equity market is also supporting metals prices and the long term outlook on demand growth is positive.

Metal stocks such as Vedanta, Jindal Steel, SAIL, Hindalco, Tata Steel, JSW Steel, National Aluminium, NMDC and Hindustan Zinc gained up to 4.43 per cent.

Among other sectoral indices, oil & gas, FMCG, Power, Bankex, Infrastructure, Teck, Auto, IT, Capital Goods, PSU, Healthcare, Consumer Durables and Realty rose up to 2.13 per cent.

The BSE mid-cap index higher by 0.76 per cent and small- cap index ended up 0.56 per cent.

Next Article: Sensex rallies 301 pts ahead of IIP, inflation data
Sensex, Nifty turn choppy; metal stocks fall  
India lacks flexing power despite high imports: ASSOCHAM  
Demonetised notes are being shredded, briquetted: RBI  
Delhi holds first exhibition of International Jewellery Brand Chemmanur's Diamonds Collection  
RBI issues corrective framework for PSBs  
Verka exhibits its product range at Krishi Unnati Mela 2018  
Sensex dives 510 pts on political concerns; extends losses for 4th day  
Sebi slaps Rs 12 L fine on merchant banker in Onelife Capital IPO case  
Now there is a marketplace to buy and sell pre-owned taxis in India  
Tata group Chief Ethics Officer Mukund Rajan quits  
Gold softens on muted demand, global cues  
Wholesale inflation eases to 2.48% in Feb'18  
Sensex down 150 pts, Nifty slips below 10,400  
SBI reduces charges on non-maintenance of minimum balance  
Regulations should not impact pace of innovation: Google  
No Nirav Modi firm in the list of 2.26 lakh deregistered cos: Govt  
Paytm to be official umpire partner for IPL 2018  
Sensex zooms the most in two yrs, Nifty above 10,400 on global relief rally  
Sensex rallies 301 pts ahead of IIP, inflation data  
Nirmala Sitharaman invites private sector in Defence  
Alstom completes all-electric ‘Make in India’ locomotive, announces €75 million contract  
Limit collateral damage from bank frauds: ASSOCHAM  
Handy tips for women before joining a new job  
Nearly 17cr Aadhaar cards linked with PAN: Centre  
GST Council likely to simplify tax returns  
Do you think controversies are now being used as business tools?
don't opinion
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy