Gains were led by buying witnessed in the metals, banking, auto and realty/infra sectors
The BSE Sensex rose 303 points to close at 34,445 on Monday while the NSE Nifty added 91 points to settle at 10,582. The 30-scrip BSE benchmark index hit an intraday high of 34,483 during Monday's session. Gains were led by buying witnessed across the bank, auto, metal, capital goods and realty shares sub-indices - which ended with gains of 1-3 per cent. Sentiments bolstered in all Asian markets following positive cues from Wall Street. Also, continued buying by domestic institutional investors (DIIs) and strengthening rupee boosted market mood, brokers said.
Here are 10 things to know about the movement in Sensex and Nifty on Monday:
(With agency inputs)
- On the Nifty 50, Larsen & Toubro, Tata Motors, UPL, Axis Bank, IndusInd Bank and Maruti Suzuki India were among the top gainers, finishing with gains of 3-3.5 per cent.
- Release of key domestic macroeconomic data combined with global market volatility and movement of funds are expected to dictate the direction of the equity markets this week, according to market analysts.
- The government will on February 28 announce GDP growth data for the October-December quarter. On the same day, the Central Statistics Office (CSO) will release the Index of Industrial Production (IIP) numbers.
- The economy grew at its fastest pace in a year in the October-December quarter, according to a Reuters poll. GDP grew 6.9 per cent in the quarter from a year earlier, according to the poll of more than 35 economists, taken over the past week. (Read more)
- On a net basis, DIIs bought equities to the tune of Rs 1,514.03 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 486.32 crore on Friday, provisional data showed.
- Some selling was witnessed in the IT and pharma stocks. Sun Pharma, Tech Mahindra, TCS, Infosys and Wipro were among the top Nifty 50 losers.
- "Market is gradually recovering lost ground, supported by positive global cues. Investors are waiting for Q3 GDP and IIP data. GDP is expected to grow at 6.9 per cent which has raised a positive sentiment while reducing the volatility in the market," said Vinod Nair, head of research, Geojit Financial Services.
- Among banking stocks, Axis Bank finished 3 per cent higher. Kotak Mahindra Bank, IDBI Bank and ICICI Bank closed around 2 per cent higher.
- At 2:59 pm, 38 stocks on the Nifty 50 finished in the positive zone. Other Nifty 50 gainers included Mahindra & Mahindra, Indian Oil, Aurobindo Pharma and Adani Ports - rising around 2 per cent.
- The equity markets will remain closed on March 2 (Friday) for the Holi festival.
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