Sensex jumps 750 pts to end at 49,850; Nifty surges 232 pts at 14,762
Benchmark domestic stocks on Monday, March 1, 2021, climbed one and half per cent in sync with gains in the global equity markets. Global indices rose ...
Benchmark domestic stocks on Monday, March 1, 2021, climbed one and half per cent in sync with gains in the global equity markets. Global indices rose amid calm in the rising bond yields and positive reports regarding US stimulus.
The BSE Sensex closed 749.85 points, or 1.53 per cent, up at 49,849.84, while the NSE Nifty surged 232.40 points, or 1.6 per cent, to finish at 14,761.55. The Bank Nifty jumped 492.40 points, or 1.41 per cent, to close at 35,296.
The broader market at BSE also gained. The Mid-Cap index ended 1.46 per cent up while the Small-Cap index appreciated 1.61 per cent.
There were more buyers than sellers. On the BSE, 1,957 shares rose and 1,111 shares fell. On the Nifty 50 index, 49 shares advanced and 1 declined. The top five gainers on Nifty 50 were Power Grid (up 6.77 per cent), ONGC (up 5.99 per cent), Grasim (up 5.76 per cent), UPL (up 5.07 per cent) and Shree Cement (up 4.39 per cent). The only share that declined on the index was Bharti Airtel, which fell 4.22 per cent.
Total Covid-19 confirmed cases worldwide were at 114,078,673 with 25,30,723 deaths. India reported 1,68,627 active cases of Covid-19 infection and 157157 deaths while 1,07,86,457 patients have been discharged, data showed.
IHS Markit India Manufacturing Purchasing Managers' Index
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) was at 57.5 in February 2021, highlighting a strong improvement in operating conditions that was broadly similar to that recorded in January (57.7). The headline figure remained above its long-run average of 53.6. India's economy returned to growth in its fiscal third quarter after a recession earlier in 2020. GDP grew 0.4 per cent in October-December compared with the same period a year earlier, data showed. The output of eight core infrastructure sectors grew marginally by 0.1 per cent in January, mainly due to growth in the production of fertiliser, steel and electricity. The core sectors had expanded by 2.2 per cent in January 2020, according to the provisional data released by the Commerce and Industry Ministry on Friday.
COVID Relief Bill
The House passed a $1.9 trillion Covid relief bill early on Saturday. The Senate will now consider the legislation. Trade data showed that the US trade deficit in goods widened to $83.7 billion in January from a revised $83.2 billion in the prior month, the Commerce Department said on Friday. Imports of goods, such as consumer electronics, rose 1.1 per cent to $218.9 billion in January. Goods imports were up 8.2 per cent compared with a year earlier.