The Indian indices appear to have picked up from where it left the trading session on Monday, as the Sensex and Nifty, the benchmark indices, surged in the early hours of the day’s trade on Tuesday, March 18.
Markets On Rise
When we take a closer look at the said benchmark indices, the BSE Sensex, at the time of writing, rose by 599.28 points or 0.81 per cent.
This took the overall value of the index to 74,769.23. When it comes to the National Stock Exchange or NSE, things were no different, as the euphoria of the surge broke the bearish shackles.
The progress of Sensex today | BSE
The NSE Nifty also surged at the same pace as the 30-stock Sensex, as it rose to 22,692.70, thanks to a major uptick of 183.95 points or 0.82 per cent in the first hour of trade.
When we look at some sectoral indices, the Nifty Bank, regarded as one of the key indices at Dalal Street made gains bigger than the other two.
At the time of writing, the Nifty bank soared by 1.12 per cent or 541.65 points, taking the overall value of the banking index to 48,895.80 points.
Major Gainers and Losers
The driving force behind this surge are banking stocks, with ICICI Bank, IDFC First and Punjab National Bank leading the charge.
Stock Wall in the early hours | BSE
Some of the major gainers apart from the aforementioned stocks were newly inducted (To BSE Sensex 30 and Nifty 50) Zomato. The company, that has struggled in the previous weeks surged by over 2 per cent.
Some other companies rising in green include bigwigs including Mahindra and Mahindra, alongside L&T and Tata Motors.
Amid the supersurge, some stocks that lagged behind the others include the likes of Bajaj Finserv, and Bajaj Finance shares.
This comes to pass after a positive trading session at Wall Street, that saw the American indices rise after days of decline.
