The BSE benchmark Sensex rebounded over 500 factors within the opening session on Monday as traders cheered the home financial system returning to development within the October-December interval after two quarters of contraction.
The 30-share gauge was buying and selling at 49,608.97, displaying a achieve of 508.98 factors or 1.04 per cent in early session. While the broader NSE Nifty was buying and selling larger by 153.15 factors or 1.05 per cent at 14,682.30 in opening offers.
The Sensex rally was pushed by positive factors throughout the board as 27 constituents had been buying and selling within the inexperienced.
On Friday, the BSE Sensex had crashed 1,939.32 factors or 3.80 per cent to finish at 49,099.99 – its worst one-day fall since May 4 final yr.
Similarly, the broader NSE Nifty had plunged 568.20 factors or 3.76 per cent to shut the session at 14,529.15 – the largest single-day drop since March 23 final yr.
Meanwhile, international traders bought equities price Rs 8,295.17 crore on a web foundation on Friday, as per alternate information.
Elsewhere in Asia on Monday, shares had been buying and selling larger in afternoon commerce amid some stability in bond markets after final week’s turmoil. Further, progress within the US stimulus bundle additionally lent some assist to investor sentiments globally.
Meanwhile, the worldwide oil benchmark Brent crude was buying and selling 0.58 per cent decrease at USD 65.59 per barrel.
Analysts mentioned, the high-frequency indicators had been pointing in the direction of the truth that the home financial system is slowly getting into the restoration path.
After two consecutive quarters of contraction, the Indian financial system has lastly entered an expansionary path.
The Gross Domestic Product (GDP) grew 0.4 per cent within the October-December 2020 interval in contrast with the identical interval a yr again, information launched by the National Statistics Office on Friday confirmed.
