HomeEnglish NewsTop News StoriesSensex Jumps Nearly 500 pts, Nifty Above 17,100; HAL Up 4%

Sensex Jumps Nearly 500 pts, Nifty Above 17,100; HAL Up 4%

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Last Updated: March 17, 2023, 09:31 IST

Why is Stock Market Rising Today?

Sensex Today: Indian indices opened on positive note on March 17 with Nifty above 17,100.

Sensex Today: Indian indices opened on positive note on March 17 with Nifty above 17,100. Key indices Nifty50 climbed over 100 points to trade above 17,100 levels, whereas the S&P BSE Sensex advanced over 400 points to trade around 58,078 levels.

Broader markets, too, edged higher in trade as Nifty MidCap 100 and Nifty Smallcap 100 indices surged up to 0.9 per cent. Volatility index, India VIX, meanwhile, slipped over 5 per cent.

Barring Nifty Media index, all other sectoral indices swimmed in the sea of green. Nifty Metal, and Nifty PSU Bank indices led the charge.

Among individual stocks, shares of Tata Consultancy Services (TCS) slipped in red after Managing Director and Chief Executive Officer Rajesh Gopinathan tendered his resignation.

Besides, shares of Hindustan Aeronautics (HAL) surged over 4 per cent after Defence Acquisition Council (DAC) cleared weapons procurement for capital acquisitions worth Rs 70,500 crore.

Global Cues

Asian markets extended a risk rally on Wall Street on Friday to end a tumultuous week that saw a brewing banking crisis send bond yields plunging while market participants sharply lowered expectations of future interest rate hikes in Western economies.

Tokyo stocks opened higher on Friday, supported by US rallies on eased concern over bank failures and jumps in stocks after the European Central Bank lifted rates.The benchmark Nikkei 225 index was up 0.69 per cent, or 186.12 points, to 27,196.73 in early trade, while the broader Topix index added 0.68 per cent, or 13.11 points, to 1,950.21.

A strong rebound by financials helped Wall Street’s main indexes close firmly positive on Thursday, after some of the country’s largest lenders came to the rescue of embattled First Republic Bank.

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