Sensex jumps 440 points in early trade amid positive global trends
The Hindu
In February, the U.S. consumer price index came in largely in line with expectations at 6%, down from 6.4% a month earlier
Bolstered by positive global cues, Indian equity market opened on a strong note on March 15 and Sensex jumped 440 points in early trade.
Asian markets, including Japan and Hong Kong, were trading in the green.
U.S. and European markets on Tuesday ended their trading sessions with gains as latest inflation data from the U.S. indicated that price pressure might be easing.
On Wednesday, the 30-share BSE Sensex surged 440.04 points or 0.76% to 58,340.23 points while the broader NSE Nifty rose 109.60 points or 0.64% to 17,152.90 points.
As many as 28 constituents of Sensex, including Maruti Suzuki, TCS and Reliance, were trading in the positive territory while in the Nifty pack, 45 scrips gained.
Domestic stocks have taken a beating in recent days. Sensex tumbled 2,447 points or 4.1% while Nifty tanked 711 points or 4.6% in the four days to Tuesday.
In a pre-market note, Deepak Jasani, Head of Retail Research at HDFC securities, on Wednesday said Indian markets could open higher, in line with positive Asian markets today and sharply higher U.S. markets on Tuesday.
The rupee fell to a record low of 92.63 against the dollar, while equities surged with Sensex up 633.29 points.
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