Sensex soars 600 points on global cues, macroeconomic data

Sensex soars 600 points on global cues, macroeconomic data

Sensex soars 600 points on global cues, macroeconomic data

For the week, the domestic stock markets continued to choke under selling pressure, with the Nifty tumbling 231.50 points to 10,226.85 and the Sensex sliding 739.80 points to settle at 33,307.14.

Mumbai: The benchmark BSE Sensex on Monday spurted by 611 points - its biggest single-day gain since March 2016 - to finish at one-week high of 33,917.94 following a relief rally in global markets on growing prospects of the USA economy.

Hindalco, HPCL, Hero MotoCorp, Yes Bank, Tata Motors, NTPC, Vedanta, ITC and International Olympic Committee jumped 3-5 percent. This is the biggest single-day gain since March 2016. It touched a high of 10,433.65 points in day trade.

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At the closing bell today, Sensex was up by 610.80 points or 1.83 per cent at 33,917.94 while the Nifty was up by 194.50 points or 1.90 per cent at 10,421.40.

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

In the Asian region, Hong Kong's Hang Seng was up 1.68 percent and Shanghai Composite Index rose 0.75 percent, while Japan Nikkei edged higher by 1.72 percent in early trade.

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Brokers said fresh buying by investors ahead of inflation data improved the market sentiment.

All the sector indices that the BSE compiles ended higher, led by the S&P BSE Telecom index, which gained 2.57%.

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.

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