Auto companies continued reporting growth in sales in February while India’s expanding GDP also gave some hope. Progress on a $1.9 trillion stimulus in the US also lifted the morale on Dalal Street.
The 30-share pack Sensex advanced 749.85 points or 1.53 per cent to close at 49,849.84.. Its broader peer NSE Nifty climbed 232.40 points or 1.60 per cent to 14,761.55.
“Domestic markets kick-started the month on a strong footing with increased optimism led by GDP reaching positive numbers, improving auto numbers and steady PMI manufacturing data. The auto sector was in focus today as the sales numbers for February were in favour of manufacturers,” said Vinod Nair, Head of Research at Geojit Financial Services.
Investors’ wealth grew by Rs 2.99 lakh crore as the total market capitalisation of BSE-listed firms rose to Rs 203.80 lakh crore.
Market at a glance
- Airtel plunges over 4% after Jio launches package to lure 2G subscribers
- India VIX — the barometer of volatility — declines 9%
- Nifty PSU Bank sole sectoral loser; Nifty Media gains 4%
- Auto stocks rise, led by Motherson, on good show in February sales
- BEML adds 8% as government extends deadline for submitting EoI
