Sensex Surges Over 500 Points, Nifty Above 11,300: 10 Things To Know

Sensex Surges Over 500 Points, Nifty Above 11,300: 10 Things To Know
The gains on Dalal Street were led by buying in energy, banking and metal stocks.
  1. At 2:52 pm, the 30-share benchmark index traded 466.79 points or 1.26 per cent higher at 37,520.89, and the Nifty was at 11,303.10, up 135.05 points or 1.21 per cent from the previous close.
  2. Top advancers on the 50-scrip index were Bharti Airtel, IndusInd Bank, ZEEL, ICICI Bank and Adani Ports, trading between 2.96 and 5.30 per cent higher. 
  3. The Nifty energy index was trading 1.24 per cent higher at that time.
  4. Sustained inflow of foreign funds and positive cues from Asian equities boosted investor's sentiment on Tuesday, analysts were quoted as saying in news agency Press Trust of India (PTI) report. 
  5. According to Vinod Nair, Head of Research, Geojit Financial Services, markets continued their rally after declaration of election date with opinion poll suggesting an edge to the ruling party.  
  6. "Since many stocks are available at cheap valuation, investors are rushing to high quality mid and small caps to participate in the pre-election rally," he said, adding that market is also awaiting CPI (Consumer Price Index) inflation data, scheduled for release later in the day.
  7. Investor sentiment was also boosted by a strong rupee, which rose to a two-and-a-half-month high on Tuesday.
  8. Asian shares rose after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement. MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.08 percent.
  9. Brent crude futures, the global oil benchmark, rose 0.39 per cent to quote at $66.84 per barrel. Oil prices rose on account of healthy demand and output cuts led by producer group Organization of the Petroleum Exporting Countries (OPEC). 
  10. On a net basis, foreign institutional investors (FIIs) bought shares worth a net of Rs 3,810.60 crore on Monday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 1,955.55 crore, provisional data available with NSE showed.    
(With inputs from agencies)
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