Sensex, Nifty climb almost 1% on positive global cues


Mumbai: The markets rallied on Monday following firm global cues after trade war worries eased last week.

Market observers said investors awaited the Consumer Price Index (CPI) and Index of Industrial Production (IIP) data slated for release later during the day.

Gains on the gauge were led by Bharti Airtel (3.84%), ITC (3.76%), Infosys (2.09%) and Tata Motors (2.05%).

At 9.22 am Sensex was trading 254.62 points or 0.76 percent up at 33,561.76 while the NSE Nifty was trading 85.25 points or 0.83 percent up at 10,312.10. Among sectoral indices, the BSE metal index rose the most by 2.32 per cent. The BSE Mid-Cap rose 0.76%.

Sensex today: The benchmark indices started week on a positive note, with Nifty reclaiming its crucial 10,300 level, tracking a relief rally in Asian markets after the latest USA jobs report managed to impress with its strength while also easing fears of inflation and faster rate hikes, a neat feat that whetted risk appetites globally. The S&P 500 Index rose on Friday and the Nasdaq Composite Index soared to a fresh record high after USA non-farm payrolls data topped forecasts.

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Indian benchmark equity indices clocked significant gains on Monday as an overall rally in the global markets on the back of strong data from the USA lifted sentiments. A total of 186 shares were unchanged.

All the sector indices that the BSE compiles ended higher, led by the S&P BSE Telecom index, which gained 2.57%.

At home, the GST council sent out a positive signal to the export community by deciding to extend the available tax exemptions on imported goods for a further six months beyond 31 March 2018, he said.

The US data showed nonfarm payrolls jumped by 313,000 jobs last month, but annual growth in average hourly earnings slowed to 2.6% after a spike in January.