March 18, 2018, 4:54 pm IST
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Global rally lifts Sensex 611 points

Global rally lifts Sensex 611 points

 Mar 12, 2018

After many days of red, on Monday Sensex has moved into green by moving up 611 points. The benchmark indices clocked 2 per cent gain. Analysts pointed out the better US jobs data for the rally.

Last week, the market had shed more than 2 per cent. By rising 610.80 points the BSE Sensex has moved to 33,917.94. This is the biggest single-day gain in the last one and half years. The NSE reached 10,421.40 with a gain of 194.50 points. This is also said to be the biggest achievement in the last 22 months.

FMCG stocks achieved 2.6 per cent. Bank, Auto, IT, Metal and Pharma rallied 1-2 per cent. ITC has witnessed 4.2 per cent rise. United Spirits was another stock moved up 5.5 per cent.Tata Motors rallied 3.25 per cent while Bharati Airtel showed 4.82 per cent loss. Among others, IOC, HDFC, Reliance Industries, ICICI Bank, Vedanta. Infosys, Axis Bank and Maruti Suzuki have gained up to 4 per cent.

Andhra Bank has lost its 6 per cent due to a scam which distracted the buyers from the stock. In an Rs. 5,000 crore bank fraud case, a former bank director is under the scanner apart from a Gujarat-based pharma firm Sterling Biotech. Some bank stocks such as IDBI, Bank of India and Union Bank has dropped around 8 per cent.

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