Closing Bell: Sensex ends 750 points higher, Nifty above 14,750; auto, metal sectors lead gains

Updated : March 01, 2021 03:46 PM IST

The Sensex ended 750 points higher at 49,850 while the Nifty rose 230 points to settle at 14,761.

The gains in the domestic indices were led by a broad-based rally across sectors.

On the Nifty50 index, Powergrid, ONGC, Grasim, UPL, and Shree Cement were the top gainers while Bharti Airtel was the only stock to end in the red.

Indian indices ended over 1.5 percent higher on Monday, recovering from a 3 percent decline in the previous session, as bond markets calm triggering a rally in the global peers. The gains in the domestic indices were led by a broad-based rally across sectors. Auto, energy and financial sectors contributed the most to the rise. The sentiment was also bullish after India reported a 0.4 percent rise in GDP growth in the December quarter after 2 quarters of negative growth.

The Sensex ended 750 points higher at 49,850 while the Nifty rose 230 points to settle at 14,761. Broader markets also surged during the day with the midcap and smallcap indices up around 2 percent each.

"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. Global markets were on its upward rally owing to the much-anticipated US stimulus package being approved and reports regarding the progress in the vaccines," said Vinod Nair, Head of Research at Geojit Financial Services.

On the Nifty50 index, Powergrid, ONGC, Grasim, UPL, and Shree Cement were the top gainers while Bharti Airtel was the only stock to end in the red.

All sectors also ended in the green for the day led by Nifty Auto, which rose 2.4 percent. Nifty Energy and Nifty Metal were also up 2 percent for the day. Meanwhile, the banking, fin services, pharma, IT, and FMCG sectors were up 1-2 percent for the day.

Shares of Bharti Airtel fell over 4 percent, in an otherwise strong market, after Integrated Core Strategies (Asia) Pte sold around 3.7 crore shares of the company. The sentiment was also lower after its competitor Reliance Jio launched JioPhone 2021 on Sunday.

Fertiliser stocks surged on reports of subsidy payment with NFL and FACT up 20 percent each.

Top midcap gainers for the day include Just Dial, IRCTC, India Cements, Motherson.

Published : March 01, 2021 03:34 PM IST

Closing Bell: Sensex ends 750 points higher, Nifty above 14,750; auto, metal sectors lead gains

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