Last updated time: 13 March 2023, 09:34 IST
Why is the stock market bullish today?
Sensex Today: Indian indices edged higher with Nifty around 17,400 on March 13.
Sensex today: Indian indices opened higher on March 13 with the Nifty opening around 17,400. The benchmark Nifty50 was up over 100 points to trade above the 17,500 level, while the S&P BSE Sensex rose over 300 points to trade around the 59,462 level.
However, the broader markets were tepid as the Nifty Midcap 100 and Nifty Smallcap 100 declined as much as 0.1 percent.
Sector-wise, the Nifty IT and Nifty Metal indices gained over 1 percent each. On the other hand, Nifty Media and Nifty Auto indices were trading lower.
Among individual stocks, Tech Mahindra shares rose over 8 percent as Infosys veteran Mohit Joshi is set to replace CP Gurnani as MD and CEO.
Asian stocks were mostly lower on Monday, weighed down by a slide on Wall Street, which worries that the biggest US bank failure in 15 years could have ripple effects around the world. Japan’s benchmark Nikkei 225 fell 1.2% to 27,817.43 in morning trade. Australia’s S&P/ASX 200 was down 0.6% at 7,104.30. South Korea’s Kospi was little changed at 2,394.10.
Tokyo stocks fell on Monday after a transit on Wall Street, as bank shares fell on fears of contagion following the failure of regional lender Silicon Valley Bank (SVB). Minutes after the opening bell, the broader Topix lost 2.14 percent, or 43.43 points, to 1,988.15.
U.S. stocks closed sharply lower and Treasury yields on Friday showed the economy added more jobs than expected on fears of contagion in the financial sector and strong February employment data.
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