Sensex rises 148 points to regain 29,000-mark in early trade

By: |
Mumbai | March 02, 2017 3:19 PM

The benchmark BSE Sensex surged over 148 points to regain the 29,000-mark in early trade today as investors and domestic institutions widened bets, tracking rally in global markets.

ICRA, Industrial Finance Corporation of India, Indian mutual fund industry, Birla Sun Life Enhanced Arbitrage Funds, ICICI Prudential Equity Arbitrage Fund, Value Research, equity schemes, fund managersThe 30-share index spurted 148.46 points, or 0.51 per cent, to trade at 29,132.95. (Image: Reuters)

The benchmark BSE Sensex surged over 148 points to regain the 29,000-mark in early trade today as investors and domestic institutions widened bets, tracking rally in global markets. The 30-share index spurted 148.46 points, or 0.51 per cent, to trade at 29,132.95. The gauge had rallied by 241.17 points in the previous session on the back of robust GDP data for the December quarter and positive global cues. All the sectoral indices, led by metal, auto, oil & gas and consumer durables, were trading in positive zone with gains of up to 1.33 per cent. The National Stock Exchange index Nifty too climbed 43.70 points, or 0.48 per cent, to 8,989.50. Brokers said that sentiments were high largely due to a firming trend in other Asian markets after the US bourses closed at new highs in yesterday’s trade. There has been a growing optimism over corporate tax cuts and other policy proposals reiterated by US President Donald Trump during his speech before the Congress.

Among other Asian markets, Hong Kong’s Hang Seng was up 0.34 per cent, while Japan’s Nikkei rose 1.29 per cent in early trade today. Shanghai Composite Index too gained 0.11 per cent. The US Dow Jones Industrial Average ended 1.46 per cent higher in yesterday’s trade.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Stocks to buy in May: Nifty Dec target at 16,100; markets to remain range bound on rising commodity prices
2DMart share price falls after Q4 results; analysts views mixed on Radhakishan Damani’s firm
3Nifty likely to hit life-time high of 15,400 in May, BFSI, pharma, metal sectors may outperform