Business & Investment

Sensex is over 300 points in US stimulus optimism.Nifty Tops 15,000: Key Factors Driving the Market

New Delhi: With optimism about US stimulus and bright economic data on US salaries and Chinese exports, the benchmark index rose early on Monday. However, for the first time since the pandemic, oil prices reached $ 70 a barrel, limiting domestic market profits.

By 9:30 am, the BSE Sensex had risen 326 points, or 0.65 percent, to 50,732.25. NSE Nifty regained 15,000 marks and was trading at 15,018.25, 80.15 points or 0.54 percent higher. The mid-cap and small-cap indexes each rose 1% and were strong.

“Brent crude oil rises above $ 71 are a major concern for India, but rising US bond yields and the dollar index, despite concerns, will hit the market if growth catches up. It doesn’t have to be an influential move. The US economy is recovering. Growth and earnings data is expected to improve in India as well. Unless bond yields skyrocket, these positive trends will boost market booms. It can be maintained. ” ..

Among the Sensex stocks, ONGC rose 4.48 percent to Rs 120.85. Axis Bank rose 1.96 percent to Rs 745.50. Reliance Industries added 1.68% to Rs 2,215.17. Larsen & Toubro, SBI, HDFC Bank and M & M each rose by more than 1%. Bajaj Auto, UltraTech Cement, Titan, Nestle India and Dr Reddy’s Labs remained among the losers, dropping to 1.6%.

The day after the US Senate passed the $ 1.9 trillion stimulus bill, Asian markets rose and data showed surprisingly strong US salaries. Japan’s Nikkei Stock Average rose 1.2% and S & P 500 futures rose 0.3%. Hong Kong’s Hang Seng Index rose 0.46% to 29,232.47. South Korea’s Kospi was up 0.40% to 3,038.26.

US President Joe Biden announced on Saturday that a $ 1,400 coronavirus-stimulated check will be distributed after March. This is the first round of stimulus checks under Biden. Former President Donald Trump passed two stimulus checks last year. One is $ 1,200 and the other is $ 600.

According to other data, China’s February exports increased at a record pace year-on-year. February dollar-based exports surged 154.9% year-on-year, and imports rose 17.3%, the highest since October 2018.

Brent crude oil futures in May reached $ 71.16 a barrel in early Asian trading, rising $ 1.40, or 2 percent, to $ 70.76 a barrel.



Sensex is over 300 points in US stimulus optimism.Nifty Tops 15,000: Key Factors Driving the Market

https://economictimes.indiatimes.com/markets/stocks/news/sensex-climbs-over-300-pts-on-us-stimulus-optimism-recovery-hopes-nifty-tops-15000/articleshow/81386287.cms Sensex is over 300 points in US stimulus optimism.Nifty Tops 15,000: Key Factors Driving the Market

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