STOCK MARKET BSE NSE

Sensex Surges 372 Points in Early Trade on Positive Macro Data

he benchmark BSE Sensex zoomed over  372 points to 25,517.78 and the broader NSE Nifty reclaimed the 7,800-mark.

Published: 13th April 2016 09:40 AM  |   Last Updated: 13th April 2016 10:39 AM   |  A+A-

By PTI

MUMBAI:The benchmark BSE Sensex zoomed over  372 points to 25,517.78 and the broader NSE Nifty reclaimed the 7,800-mark in early trade today on the back of positive macroeconomic data.

Besides, a firming trend in other Asian markets, tracking rallies in the US and Europe as oil prices pushed up to 2016 highs on reports of an Russia-Saudi Arabia agreement to freeze output, buoyed sentiment.

The 30-share barometer spurted 372.19 points or 1.48 per cent to 25,517.78 with all the sectoral indices, led by banking, auto and infrastructure, rising up to 2 per cent.

The gauge had gained 471.75 points in previous two days.

The NSE index Nifty recaptured the 7,800-level by climbing 112.35 points or 1.46 per cent to 7,821.30.

Brokers said buying activity picked up on positive economic data as industrial production expanded at 2 per cent year-on-year in February after staying negative for the last three months on better performance of mining, power and consumer goods.

Retail inflation falling to a six-month low of 4.83 per cent in March, too had a positive impact, they said.

Among other Asian markets, Japan's Nikkei rose 2.64 per cent while Hong Kong's Hang Seng was up 2.19 per cent in early trade. China's Shanghai Composite index rose 2.08 per cent.

The US Dow Jones Industrial Average had closed 0.94 per cent higher in yesterday's trade.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp