On Monday, the Equity benchmark indices rose close by one per cent in early hours, with sudden gains in metal and auto stocks. At morning 10:20 am, The BSE S&P Sensex was marked up by 512 points or 0.91 per cent at 56,636, while by 148 points or 0.89 per cent to 16,853 the Nifty 50 rose.
The Nifty metal rose by 2.2 per cent, Realty by 1.6 per cent, and the Financial services by 0.8 per cent marking all sectoral indices Green.
Hindalco up by 2.9 per cent to Rs 450.65 per share while Tata Steel increased by 2.7 per cent and JSW Steel by 1.8 per cent in Stocks.
With Tata Motors, Mahindra and Mahindra Maruti Suzuki, Hero Motorcorp Accelerating along with Bharti Airtel, Reliance Industries, Bajaj Finance, Bajaj Finserv, and Axis Bank, Auto scrips got gained.
Nestle India and Tech Mahindra got lowered by half a per cent.
A week with gains in the Asian shares after the US Reserve Chairman Jerome Powell struck a more dovish tone than some investors expected in a long-awaited speech on Friday.
Japan’s Nikkei moved up 0.4 per cent, Hong Kong Shares were increased by 0.35 per cent. South Korea’s Kospi rose by 0.32 per cent.
US economic recovery was affirmed by Powell in a speech giving a detailed account of why he regards a spike in inflation as temporary and offered no signal on when the central bank plans to cut its asset purchases beyond saying it could be this year. He also explained why there is no rush to tighten monetary policy.