Sensex Closes Over 600 Points up at 33917; Nifty Ends Above 10400

A trader reacts as he watches screens on the floor of the New York Stock Exchange in New York on Feb 5

A trader reacts as he watches screens on the floor of the New York Stock Exchange in New York on Feb 5

The BSE benchmark Sensex today posted its biggest intra-day gain in almost two years by surging over 600 points to close at 33,917.94.

HCL Technologies, ITC, Tech Mahindra, Tata Steel and Vedanta were among the top gainers in the Nifty50 index. This is the biggest single-day gain since March 2016.

Indian shares jumped almost 2 percent on Monday, in line with a global rally after the latest U.S.jobs report assuaged fears around inflation and faster rate hikes, while investors back home awaited inflation numbers due later in the day. Japan's Nikkei 225 was trading 1.5 per cent higher, China's Hang Seng was up 1.3 per cent and Shanghai Composite 0.3 per cent and South Korea's KOSPI up 1 per cent.

Bharti Airtel rose the most by 4.68 per cent among Sensex scrips its board approved raising up to Rs 16,500 crore for refinancing debt and paying for spectrum liabilities. Analysts said that the six-day losing streak that had gripped the markets last week, facilitated investors to indulge in some lo-level buying. Both the benchmark indices gained 2 per cent during the day.

China data: China's industrial production, retail sales and fixed-asset investment numbers will be released on Wednesday and are are likely to point to slower growth, according to Bloomberg Economics forecasts.

MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.4 percent soon after opening on Monday.

Out of 2,031 stocks traded on the NSE, 905 advanced, 775 declined and 351 remained unchanged today.

All the sectoral indices, led by telecom, FMCG, IT, metals and oil & gas, were trading in the green, with gains of up to 1.75% at 2.00 pm.

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