Sensex extends rally, surges almost 500 pts on strong global cues

  • Sensex extends rally, surges almost 500 pts on strong global cues

Sensex extends rally, surges almost 500 pts on strong global cues

Investor wealth on Monday rose by Rs 1.78 trillion, helped by a smart rally in the stock market, where the benchmark Sensex spurted by 611 points - its biggest single-day gain in two years.

Indian benchmark equity indices clocked significant gains on Monday as an overall rally in the global markets on the back of strong data from the USA lifted sentiments. The BSE index gained 610.80 points to close at 33,917.94, while the broader 50-share NSE Nifty went up by 197.05 points to finish trading at 10,423.90.

According to market observers, hopes of easing inflation in the Consumer Price Index (CPI) data slated for release later in the evening too lifted investors' risk-taking appetite. "However, mid and small cap witnessed reluctance due to high valuation".

The BSE benchmark Sensex today posted its biggest intra-day gain in almost 12 months by surging over 470 points to 33,790.19 tracking a relief rally in global markets after better-than-expected USA jobs report.

Mumbai: Key indices zoomed nearly 2 per cent on Monday after strong USA jobs data fuelled a global rally in stocks.

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

Positive Asian stocks boosted sentiment on the domestic bourses while global stocks gained as worldwide trade-war concerns abated and were replaced by economic optimism following a stronger United States jobs report released over the weekend.

All the sectoral indices, led by telecom, FMCG, IT, metals and oil & gas, were trading in the green, with gains of up to 1.75% at 2.00 pm.

Non-farm payroll data released in the U.S. last Friday showed a strong growth of 313,000 jobs.