Sensex soars 600 points on global cues, macroeconomic data

Sensex falls 126 points Nifty at 10,385 amid weak Asian markets Bharti Airtel SBI Adani Ports top losers

Sensex soars 600 points on global cues, macroeconomic data

For the week, the domestic stock markets continued to choke under selling pressure, with the Nifty tumbling 231.50 points to 10,226.85 and the Sensex sliding 739.80 points to settle at 33,307.14. Metal sector too is off its previous losses and is trading higher.

In the Asian region, Hong Kong's Hang Seng was up 1.68 percent and Shanghai Composite Index rose 0.75 percent, while Japan Nikkei edged higher by 1.72 percent in early trade.

Back home, Indian equity benchmarks retreated yet again on Friday after a day's breather. After a positive start, markets turned around in the second half of the session to close lower. On Friday, the three major USA stock indices climbed nearly 2 per cent and the Nasdaq closed at a record high, as February's jobs report assuaged fears of inflation and aggressive interest rate hikes.

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 United States 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.

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Private bank stocks ICICI Bank (up 1.37 per cent), IDFC Bank (up 1.20 per cent) and IndusInd Bank (up 1.03 per cent) were gaining over 1 per cent in morning trade on Monday, keeping the sectoral index in the green. However, wages grew less than expected at 2.6 per cent on an annualised basis.

The Dow Jones Industrial Average climbed 1.8 percent on Friday while the S&P 500 added 1.7 percent.

The European stock markets too jumped on the positive U.S. jobs data.

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