Sensex rallies 301 pts ahead of IIP, inflation data

Sensex today: ITC, Tata Steel top movers; index gains over 250 points

The barometer 30-scrip Sensitive Index (Sensex) closed at 33,917.94 points - up 610.80 points, or 1.83 per cent, from the previous session's close. It also tempered fears on inflation and faster rate hikes by the US Federal Reserve. On Monday, the broader Nifty of the NSE settled at 10,421.40, rising 194.55 points or 1.9%.

Among Asian markets, MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.4 per cent. Japan's Nikkei jumped 2 per cent, while South Korea rose 0.8 per cent.

The US Labor Department said that non-farm payroll employment surged up by 313,000 jobs in February, the biggest gain since mid-2016.

The equity markets soared almost two per cent on Monday tracking strong gains in overseas equities after U.S. jobs data showed that the annual growth in average hourly earnings slowed to 2.6 per cent despite an impressive growth in non-farm payrolls.

FMCG, IT, Teck, oil & gas, metal, capital goods, bankex and auto counters saw heavy buying activity ahead of key IIP and inflation numbers, to be released after market hours today.

Benchmark indices were in trading in the green, tracking robust global cues. However, short covering in the latter half triggered fresh momentum in the latter half and nearly all the sectoral indices participated in the move.

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.

Market participants will keep a close eye on domestic macro-economic data releases. While Rs 13,781 crore was invested in January 2018, Rs 11,037 crore was pulled out in February.



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