file. , Photo Credit: Paul Noronha
Recovering from the previous day’s losses, the Sensex rallied nearly 900 points and the Nifty climbed over 272 points on March 3, following a positive trend in global equities and fresh foreign fund inflows.
After starting the trade on a positive note, the BSE Sensex closed at 59,808.97, up 899.62 points or 1.53%. During the day, it gained 1,057.69 points, or 1.79%, to 59,967.04.
The NSE Nifty closed at 17,594.35, up 272.45 points or 1.57%.
From the Sensex pack, State Bank of India, Bharti Airtel, Reliance Industries, ITC, Tata Steel, IndusInd Bank, HDFC Bank, Tata Motors, HDFC and Titan were major gainers.
Tech Mahindra, UltraTech Cement, Nestle and Asian Paints were the laggards.
In the Asian markets, Seoul, Japan, China and Hong Kong closed in the green.
Equity markets in Europe were trading in the positive zone. US markets closed with gains on Thursday.
Foreign portfolio investors (FPIs) bought shares worth Rs 12,770.81 crore on Thursday, according to exchange data.
“Markets had more reasons to cheer today than to worry about concerns about inflation. Reports of foreign investment in Adani shares led PSU banks to rally, helping the sector overcome weak sentiments.” Sentiment turned lighter as FIIs turned strong. Buyers,” said Vinod Nair, head of research at Geojit Financial Services.
Troubled Adani Group has sold minority stake in four of its listed companies to US-based GQG Partners for ₹15,446 crore, as the Apple-to-Airport conglomerate recovers from selloff triggered by short-seller reports, looks to be on edge Liquidity ahead of the $2 billion loan repayment in the coming months.
International oil benchmark Brent crude fell 0.07% to $84.69 a barrel.