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Monsoon Mania in market...global cues lift Sensex 481pts;Nifty shuts above 7800

Discussion in 'Stock Market News & Analysis' started by chetanepic, Apr 13, 2016.

  1. chetanepic

    chetanepic New Member

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    The market surged nearly 2 percent on Wednesday following global rally, strong monsoon forecast, better-than-expected economic data and ahead of Infosys Q4 earnings. In fact, it was broadbased upside, majorly led by banks, auto and FMCG stocks.

    This strong momentum helped the Sensex recovered more than 3100 points and Nifty over 1000 points from 2016 lows of 22494.61 and 6825.80 (hit on February 29), respectively.

    The 50-share NSE Nifty closed above the 7850 level for the first time since January 1, rising 141.50 points or 1.84 percent today to 7850.45 (continuing rally for the fourth consecutive session). The 30-share BSE Sensex shot up 481.16 points or 1.91 percent to 25626.75. But the upside in broader markets was less compared to benchmarks as the BSE Midcap index gained 0.9 percent and Smallcap rose 1.06 percent.

    Globally, Asian markets ended on a strong note after rising Chinese exports. Nikkei and Hang Seng rallied 3 percent followed by Shanghai with 1.44 percent upside. European markets also traded higher with France's CAC, Germany's DAX and Britain's FTSE rising 1-2.5 percent.

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