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Sensex rises 900 points, Nifty crosses 14,750 as Q3 GDP data cheers investors

While Sensex gained 900 points to 50,000 mark, Nifty rose 266 points to 14,795 in early trade

Aseem Thapliyal | March 1, 2021 | Updated 11:13 IST
Sensex rises 900 points, Nifty crosses 14,750 as Q3 GDP data cheers investors
The recovery in market came as investors were buoyed by domestic economy returning to growth in the October-December period after two quarters of contraction.

Sensex rose over 900 points in early trade today, recovering partial losses logged during Friday market crash. While Sensex gained 900 points to 50,000 mark, Nifty rose 266 points to 14,795. The recovery in market came as investors were buoyed by domestic economy returning to growth in the October-December period after two quarters of contraction.

Gross Domestic Product (GDP) rose 0.4 per cent in the October-December 2020 period compared with the same period a year back, data released by the National Statistics Office on Friday showed.

Meanwhile, the rupee slumped 29 paise to 73.76 against the US dollar in opening trade, weighed down by significant foreign fund outflows and rising crude oil prices.

Foreign investors sold equities worth Rs 8,295.17 crore on a net basis on Friday, as per NSE data.

Share Market Live: Sensex rises 900 points, Nifty at 14,785; M&M, ONGC, HDFC Bank, Tech Mahindra top gainers

On Friday, Sensex crashed 1,939.32 points or 3.80 per cent to close at 49,099.99 its worst one-day fall since May 4 last year. Nifty had plunged 568.20 points or 3.76 per cent to close the session at 14,529.15 the biggest single-day drop since March 23 last year.

Stocks in news: RIL, DLF, United Spirits, Indian Oil, Axis Bank, Affle

On Sensex, 29 components were trading in the green.  Top gainers were M&M, ONGC , Titan and Tech Mahindra rising up to 5.50%. Bharti Airtel share was the only Sensex loser falling up to 4%.

Market cap on BSE rose to Rs 204.04 lakh crore. Market breadth was positive with 1,930 shares rising against 752 falling on BSE. 161 stocks were unchanged. Number of stocks hitting 52-week highs stood at 231 against 29 falling to 52-week lows.

Banking  and consumer durable stocks led the gains in early trade. BSE bankex climbed 743 points to 39,724 and BSE consumer durables index gained 726 points to 32,485.

All 19 BSE sectoral indices were trading higher in early trade.

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