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Sensex rises 254 pts to settle at 51,280; Nifty climbs 76 pts to 15,175
Domestic Markets surged more than 2%; Sensex zoomed 1128 points & Nifty 50 closed at 14,845
Benchmark domestic stocks today logged gains of half a per cent amid mixed global cues.
Benchmark domestic stocks today logged gains of half a per cent amid mixed global cues. The BSE Sensex rose 254.03 points, or 0.5 per cent, to finish at 51,279.51 and the NSE Nifty 50 climbed 76.40 points, or 0.51 per cent, to close at 15,174.80. The Nifty Bank gained 72.65 points, or 0.20 per cent, to settle at 35,938.30.
The broader market at BSE also appreciated outperforming the Sensex. The BSE Mid-Cap index gained 0.77 per cent and the BSE Small-Cap index surged 0.95 per cent down.
Buyers outpaced sellers. On the BSE, 1629 shares rose and 1353 shares fell. On the Nifty 50 index, 35 shares advanced and 15 shares declined. The top five gainers on Nifty 50 were Eicher Motors (up 3.10 per cent), JSW Steel (up 3.04 per cent), Hindalco (up 2.33 per cent), Tata Steel (up 2.31 per cent) and Bajaj Finance (up 2.27 per cent). The top five losers include SBI Life (down 3.48 per cent), ONGC (down 1.84 per cent), IOC (down 1.54 per cent), HDFC Life (down 1.54 per cent) and Kotak Bank (down 0.91 per cent).
The stock market will remain shut on Thursday, March 11, 2021, on account of Mahashivratri.
$1.9 trillion Coronavirus relief bill in the US
Democrats in the US House of Representatives are aiming to pass the $1.9 trillion Coronavirus relief bill on Wednesday so that Biden can sign it by the weekend. The legislation extends a $300 per week jobless benefit boost and programmes expanding unemployment aid to millions of more Americans through September 6.
OECD Forecast for 2021 Global Growth
The Organisation for Economic Co-operation and Development (OECD) sharply raised its 2021 global growth forecast on Tuesday as the deployment of vaccines and a huge US stimulus programme have greatly improved economic prospects. The Paris-based organisation says it now expects the global economy to grow by 5.6 per cent, an increase of 1.4 per cent points from its December forecast. Global economic prospects have improved markedly in recent months, helped by the gradual deployment of effective vaccines, announcements of additional financial support in some countries, and signs that economies are coping better with measures to suppress the virus, it said in a report.
