Sensex rebounds over 270 pts in early trade; Nifty reclaims 15,000-level

Team Udayavani, Mar 8, 2021, 9:50 AM IST

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Mumbai: The BSE gauge Sensex rallied over 270 points and the NSE Nifty reclaimed the key 15,000-level in early trade on Monday, tracking a robust recovery in global shares.

The 30-share Sensex was trading at 50,679.19, showing a rise of 273.87 points or 0.54 per cent.

Likewise, the broader Nifty was quoted at 15,015.05, up 76.95 points or 0.52 per cent.

On the Sensex chart, ONGC, NTPC, Axis Bank, M&M, HDFC Bank and SBI were major gainers – climbing as much as 4.3 per cent.

Of the Sensex shares, 21 traded in the green.

In other Asian markets, equities staged a strong recovery after witnessing panic sell-offs for a couple of sessions as investors cheered the US Senate passing a USD 1.9 trillion stimulus bill for COVID-19 relief package.

Investor worries also subsided after the rise in bond yields steadied and the US labour department reported stronger-than-expected jobs data for February.

Meanwhile, global crude oil benchmark Brent Futures rose 1.49 per cent to USD 70.73 per barrel.

On Friday, the Sensex had dropped by 440.76 points or 0.87 per cent, and the Nifty had ended lower by 142.65 points or 0.95 per cent.

On a weekly basis, however, the Sensex had gained 1,305.33 points or 2.65 per cent and the Nifty added 408.95 points or 2.81 per cent.

Foreign investors offloaded equities worth Rs 2,014.16 crore on a net basis in Indian capital markets on Friday, according to exchange data.