NEW DELHI: Equity indices jumped Monday with standard BSE sensex increasing over 500 points led to gains in banking and metal stocks, before their gross domestic product (GDP) statistics for its fourth quarter.
Even the 30-share BSE index climbed 515 points 1 percent to close 51,937; whereas the wider NSE Nifty settled 147 points 0.
95 percent at new closing high in 15,583.
Top gainers from the sensex package comprised Reliance, ICICI Bank, Bharti Airtel, ITC, Dr Reddy along with Maruti using their stocks rising up to 3.
13 percent.
Even though M&M, Infosys, IndusInd Bank, both L&T and Sun Pharma would be the Significant losers falling around 4.
4 percent.
On the NSE stage, sub-indices Nifty Metal, Bank and Financial Services gained up to 2.
1 percent.
The National Statistics Organisation (NSO) will declare GDP data later in the afternoon.
According to economists, the nation’s financial expansion probably picked up at the January-March quarter in the previous 3 months.
But they voiced pessimism concerning this past year following a brutal second tide of Covid-19 struck the nation a month.
Investors’ opinion has improved from the recent times because of a steady drop in daily Covid-19 instances in India.
Last week, the state declared its lowest daily increase of instances in over a month.
“There are just two conflicting pieces of information for the industry now.
The steadily decreasing Covid new cases are still favorable.
Complex unlocking has begun in several nations paving the way to get a pickup in economic action.
“However, the negative thing is growing new cases in nations such as China & Vietnam.
This may affect ideas for Asian markets generally,” V K Vijayakumar, chief investment strategist in Geojit Financial Services advised news agency PTI.
Meanwhile, the foreign institutional investors (FIIs) were net buyers in the funds marketplace since they purchased stocks worth Rs 913.
59 crore on Friday, according to bilateral trade statistics.
(With inputs from agencies)