Sensex gains 750 points, auto and metal stocks surge

Mumbai (Maharashtra) [India], March 1 (ANI): Equity benchmark indices traded firm on Monday due to upbeat sentiment in global markets and India getting technically out of recession with Q3 GDP data showing 0.4 per cent growth.

Aiding the sentiment was the country kicking off an expansion of its Covid-19 vaccine campaign with Prime Minister Narendra Modi getting inculcated.

At the closing bell, the BSE SP Sensex was up by 750 points or 1.53 per cent at 49,850 while the Nifty 50 ticked higher by 232 points or 1.6 per cent to 14,762.

Except for Nifty PSU bank which slipped marginally, all other sectoral indices at the National Stock Exchange were in the green with Nifty auto up by 2.4 per cent, metal by 1.9 per cent, financial service by 1.8 per cent, private bank by 1.3 per cent and IT by 1 per cent.

Among stocks, Hero MotoCorp surged by 3.9 per cent to Rs 3,352 per share and Maruti Suzuki by 2.2 per cent to Rs 7,025. MahindraMahindra closed the day 1.8 per cent higher at Rs 819.50.

Energy major ONGC moved up by 5.5 per cent higher, Grasim by 5.4 per cent and UltraTech Cement by 4 per cent.

However, Bharti Airtel fell by 4.2 per cent to close at Rs 532.60 per share.

Meanwhile, Asian shares rallied as some semblance of calm returned to bond markets after last week's ride. Progress in the huge US stimulus package underpinned optimism about the global economy also sent oil prices higher.

Japan's Nikkei rallied by 2.41 per cent while Hong Kong's Hang Seng added 1.63 per cent. (ANI)