Sensex surges by over 500 points in opening session; Nifty crosses 14,680 – Business News , Firstpost

On Friday, the BSE Sensex had crashed 1,939.32 points or 3.80 % to finish at 49,099.99, its worst one-day fall since 4 May final yr

Representational picture. PTI

Mumbai: The BSE benchmark Sensex rebounded over 500 points in the opening session on Monday as buyers cheered the home economic system returning to development in the October-December interval after two quarters of contraction.

The 30-share gauge was buying and selling at 49,608.97, exhibiting a acquire of 508.98 points or 1.04 per cent in early session. While the broader NSE Nifty was buying and selling increased by 153.15 points or 1.05 per cent at 14,682.30 in opening offers.

The Sensex rally was pushed by positive factors throughout the board as 27 constituents had been buying and selling in the inexperienced.

On Friday, the BSE Sensex had crashed 1,939.32 points or 3.80 % to finish at 49,099.99, its worst one-day fall since 4 May final yr.

Similarly, the broader NSE Nifty had plunged 568.20 points or 3.76 per cent to shut the session at 14,529.15, the most important single-day drop since March 23 final yr.

Meanwhile, overseas buyers bought equities value Rs 8,295.17 crore on a internet foundation on Friday, as per alternate knowledge.

Elsewhere in Asia on Monday, shares had been buying and selling increased in afternoon commerce amid some stability in bond markets after final week’s turmoil. Further, progress in the US stimulus bundle additionally lent some help to investor sentiments globally.

Meanwhile, the worldwide oil benchmark Brent crude was buying and selling 0.58 % decrease at USD 65.59 per barrel.

Analysts stated, the excessive-frequency indicators had been pointing in direction of the truth that the home economic system is slowly getting into the restoration path.

After two consecutive quarters of contraction, the Indian economic system has lastly entered an expansionary path.

The Gross Domestic Product (GDP) grew 0.Four % in the October-December 2020 interval in contrast with the identical interval a yr again, knowledge launched by the National Statistics Office on Friday confirmed

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