Sensex Jumps Over 300 Points, Nifty Above 10,200: 10 Things To Know

Top gainers on the 50-scrip Nifty index were SBI, Indiabulls Housing Finance, Bharti Airtel, UltraTech, Cipla and Yes Bank.

Market | | Updated: March 21, 2018 11:05 IST
Sensex Jumps Over 300 Points, Nifty Above 10,200: 10 Things To Know

Banking, infrastructure, pharma, and realty stocks jumped

The BSE Sensex started Wednesday's session on a strong note, rising as much as 343 points to trade above 33,340. Gains were broad-based with all the sectors trading in the green. The National Stock Exchange benchmark index Nifty added 101 points to touch a day high of 10,225. Top gainers on the 50-scrip Nifty index were SBI, Indiabulls Housing Finance, Bharti Airtel, UltraTech, Cipla and Yes Bank - trading around 2-3 per cent higher in morning deals. Gains were in tandem with equities in other Asian markets, ahead of outcome of the Federal Reserve's two-day policy meet.
Here are 10 things to know about Wednesday's trading session:
  1. Banking, infrastructure, pharma, and realty stocks jumped, with the sectoral sub-indices on the NSE up between 1 per cent and 2 per cent.
  2. Traders said buying activity picked up on positive cues from other Asian bourses as investors look towards the conclusion of US Federal Reserve policy meet due late on Wednesday.
  3. Short-covering by speculators too supported the rally, they added.
  4. The Federal Reserve will conclude its two-day policy meet later on Wednesday.
  5. The US central bank has raised rates five times since it began tightening policy in late 2015.
  6. State Bank of India (SBI) and Punjab National Bank (PNB) were up 1.8 per cent. Among other PSU banks, IDBI Bank, Allahabad Bank, Canara Bank and Bank of India were trading with gains between 2.6 per cent and 3.9 per cent in morning trade.
  7. Foreign portfolio investors (FPIs) bought shares worth Rs 344.16 crore on a net basis on Tuesday while domestic institutional investors (DIIs) made purchases worth Rs 731.17 crore, provisional data showed.
  8. Asian markets rose as a hush settled on Wednesday with investors anticipating a quarter-point hike in the Federal Reserve's policy rate later in the day. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.4 per cent after four straight days of losses, tracking overnight gains on Wall Street. Chinese shares were buoyant with Hong Kong's Hang Seng index gaining 1.3 per cent. Australian and Korean stocks were up marginally.
  9. At 10:51 am, 41 stocks on the 50-scrip Nifty index were trading in the positive zone.
  10. Some other top gainers on the index were HDFC, L&T and NTPC - up around 1.5 per cent.
(With agency inputs)

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