Sensex jumps nearly 500 points, Nifty above 17,100; HAL is 4% higher

Last updated time: 17 Mar 2023 09:31 IST

Why is the stock market rising today?

Sensex Today: Indian indices opened on a positive note on March 17, with Nifty above 17,100.

Sensex today: Indian indices opened on a positive note on March 17, with the Nifty above 17,100. The benchmark Nifty50 rose over 100 points to trade above the 17,100 level, while the S&P BSE Sensex rose over 400 points to trade at 58,078.

Broader markets were also higher in trade as the Nifty MidCap 100 and Nifty Smallcap 100 indices rose as much as 0.9 percent. India VIX volatility index exceeded 5 percent.

Barring the Nifty Media index, all other sectoral indices swam in a sea of ​​green. Nifty Metal and Nifty PSU Bank indices led the charge.

Among individual stocks, shares of Tata Consultancy Services (TCS) were in the red after managing director and chief executive officer Rajesh Gopinathan tendered his resignation.

Meanwhile, shares of Hindustan Aeronautics (HAL) rose over 4 percent after the Defense Acquisition Council (DAC) approved the arms acquisition for a capital purchase of Rs 70,500 crore.

Global symbols

Asian markets extended a risk-on rally on Wall Street on Friday, as the simmering banking crisis pushed bond yields lower and market participants sharply lowered expectations for future interest rate hikes in the West.

Tokyo stocks edged higher on Friday, supported by easing concerns about bank failures and a jump in stocks after the U.S. European Central Bank raised rates. The benchmark Nikkei 225 rose 0.69 percent, or 186.12 points, to 27,196.73 in early trade. while the broader Topix added 0.68%, or 13.11 points, to 1,950.21.

Strong gains in financials helped Wall Street’s major indexes close on a positive note Thursday after some of the nation’s biggest lenders came to the rescue of struggling First Republic Bank.

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