Sensex surges over 500 points in early trade, Nifty tops 14,680

The Sensex rally was driven by gains across the board as 27 constituents were trading in the green.

The BSE benchmark Sensex rebounded over 500 points in the opening session on March 1 as investors cheered the domestic economy returning to growth in the October-December period after two quarters of contraction.

The 30-share gauge was trading at 49,608.97, showing a gain of 508.98 points or 1.04% in early session. While the broader NSE Nifty was trading higher by 153.15 points or 1.05% at 14,682.30 in opening deals.

The Sensex rally was driven by gains across the board as 27 constituents were trading in the green.

On February 27, the BSE Sensex had crashed 1,939.32 points or 3.80% to end at 49,099.99 – its worst one-day fall since May 4 last year.

Similarly, the broader NSE Nifty had plunged 568.20 points or 3.76% to close the session at 14,529.15 – the biggest single-day drop since March 23 last year.

Meanwhile, foreign investors sold equities worth ₹8,295.17 crore on a net basis on February 27, as per exchange data.

Elsewhere in Asia on March 1, shares were trading higher in afternoon trade amid some stability in bond markets after last week’s turmoil. Further, progress in the U.S. stimulus package also lent some support to investor sentiments globally.

Meanwhile, the global oil benchmark Brent crude was trading 0.58% lower at $65.59 per barrel.

Analysts said, the high-frequency indicators were pointing towards the fact that the domestic economy is slowly entering the recovery path.

After two consecutive quarters of contraction, the Indian economy has finally entered an expansionary path.

The Gross Domestic Product (GDP) grew 0.4% in the October-December 2020 period compared with the same period a year back, data released by the National Statistics Office on February 27 showed.

You have reached your limit for free articles this month.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Personalised recommendations

A select list of articles that match your interests and tastes.

Faster pages

Move smoothly between articles as our pages load instantly.


A one-stop-shop for seeing the latest updates, and managing your preferences.


We brief you on the latest and most important developments, three times a day.

Support Quality Journalism.

*Our Digital Subscription plans do not currently include the e-paper, crossword and print.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button