Sensex Today: Rebound in global equities entered third day Monday as last Friday’s lower-than-expected jobs data in the US reignited hopes that the Fed will abstain from hiking rates going ahead. The S&P BSE Sensex surged 312 points, or 0.48 per cent, to quote at 64,675 levels in early deals.
The Nifty50, on the other hand, reclaimed 19,300 levels, up 85 points or 0.47 per cent.
Hindalco, Adani Enterprises, Coal India, Hero MotoCorp, JSW Steel, Bajaj Auto, Grasim, Tata Steel, Bajaj Finance, M&M, Eicher Motors, Axis Bank, ICICI Bank, NTPC, and Adani Ports marched ahead with the most gains, rising up to 1.16 per cent.
In the broader markets, meanwhile, the BSE MidCap and SmallCap added 0.49 per cent and 0.92 per cent, respectively.
Among sectors, the Nifty Realty and Metal indices clocked gains of 0.9 per cent each, followed by the Nifty Private bank index (up 0.6 per cent). On the downside, the Nifty PSU Bank index fell 0.2 per cent.
Global Cues
Asian shares rallied for a fourth straight session on Monday after markets moved to price in earlier rate cuts in the United States and Europe, bullish wagers that will be tested by a swarm of central bank speakers this week.
Tokyo stocks opened higher Monday after Wall Street rallied following slower jobs and wage growth data that reduced expectations of further US interest rate hikes.The benchmark Nikkei 225 index was up 1.56 per cent, or 498.38 points, at 32,448.27 in early trade, while the broader Topix index added 1.22 per cent, or 28.28 points, to 2,350.67.
Wall Street’s main stock indexes rallied on Friday as bond yields fell sharply after data showed signs of slowing U.S. jobs growth and an uptick in unemployment, boosting hopes that the Federal Reserve is done with its interest rate hiking campaign.
Oil prices edged up on Monday after top exporters Saudi Arabia and Russia said they would stick to extra voluntary oil output cuts until the end of the year, keeping supply tight, while investors watched out for tougher U.S. sanctions on Iranian oil.
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