Sensex closes after biggest intra-day record high in almost 1.5 years

WION Web Team New Delhi, Delhi, India Mar 12, 2018, 10.19 AM(IST)

File photo: Sensex Photograph:( PTI )

The markets, during the closing on Monday, posted biggest intra-day gain in approximately 1.5 years, with the Sensex closing 610.80 points up at 33,917.94.

Nifty, on the other hand traded up 194.50 points at 10421.40, at the close of day.

Sensex saw the biggest one-day gain in last 17 months, while Nifty recorded its biggest single-day gain in 22 months.

About 1380 shares advanced, 1341 shares declined, and 210 shares were unchanged.

FMCG, IT, Tech, oil & gas, metal, capital goods, banks and auto counters saw heavy buying activity ahead of key IIP and inflation numbers.

Bharti Airtel, ITC, Tata Motors, Infosys, NTPC were among the top gainers, rising up to 3.59 per cent.

A firm trend in other Asian markets and higher opening in European bourses, following a good show by Wall Street on Friday, lifted investors' mood in domestic markets.

In the global markets, a relief rally swept across Asian share markets on Monday after the latest US jobs report managed to impress with its strength while also easing fears of inflation and faster rate hikes, a neat feat that whetted risk appetites globally. 

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 1.1 per cent, for a third session of gains. Japan’s Nikkei jumped 1.5 per cent, showing little immediate reaction as Prime Minister Shinzo Abe came under renewed fire over suspicions of cronyism involving the sale of state-owned land.

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

Inflation worries faded on Friday after US data showed nonfarm payrolls jumped by 313,000 jobs last month, but annual growth in average hourly earnings slowed to 2.6 per cent after a spike in January.

Back home, the Nifty FMCG index was trading over 2% higher on Monday, led by a rise in the shares of United Spirits, ITC and Tata Global Beverages, while the Nifty IT index was up 1.5% as KPIT Technologies and HCL Technologies gained ground. 

(With inputs from Agencies)