Indian markets rallied in Monday's opening bell tracking positive global cues as the rally in bond yields calms. Also, the country's economy has stepped out of the recession period caused by the Covid-19, as the GDP turned positive for the first time since the pandemic hit business activities.
At around 09.47 am, Sensex is trading at 49,878.20 up 778.21 points or 1.58%. The index has climbed to an intraday high of 49,909.91.
Meantime, Nifty 50 performs at 14,741.40 soaring by 212.25 points or 1.46%. The has gained to an intraday high of 14,765.15.
Sensex gainers were - Power Grid jumping by 4% followed by M&M, ONGC, Tech Mahindra advancing by around 3.3% each. Ultratech Cement, HDFC, Kotak Bank and Titan zoomed by nearly 3% each.
However, Bharti Airtel was the only underperformer on the index tumbling by 2.2%.
In terms of sectoral indices, on BSE, banking, auto and IT stocks were among the top picks. Bankex spurted by nearly 700 points, Auto and IT index climbed by around 484 points and 422 points respectively.
A broad-based buying was recorded across sectoral indices on BSE with substantial gains also added by oil, financial and pharma stocks.
India's Gross Domestic Product (GDP) for the third-quarter ending December 2020 (Q3FY21), witnessed a marginal growth of 0.4% to Rs36.22 lakh cr against Rs36.08 lakh cr a year ago same period.
The Ministry of Statistics & Programme Implementation in a statement highlighted that the growth in real GDP during 2020-21 is estimated at -8.0% as compared to 4.0% in 2019-20.
The ministry data said, "Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2020-21 is estimated to attain a level of Rs134.09 lakh cr, as against the First Revised Estimate of GDP for the year 2019-20 of Rs145.69 lakh cr, released on 29th January 2021."
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