Sensex surges 344 points in early trade; Nifty rises 108 points

Published on: 13 Mar 2023 at 12:30 PM

Published by: The fact news

Mumbai, March 13

The equity market opened on a strong note on Monday, with benchmark index Sensex jumping 344 points amid positive investor sentiments and mixed global cues.

The 30-share BSE Sensex surged 344.92 points or 0.58 per cent to 59,480.05 points while the broader NSE Nifty climbed 108.05 points or 0.62 per cent to 17,520.95 points.

As many as 20 stocks in the Sensex pack were trading with gains.

The strong opening comes after two straight trading sessions of losses for the benchmark indices.

Notwithstanding concerns over the fallout of the collapse of the Silicon Valley Bank in the US, investor sentiments were relatively strong amid growth in industrial output in January and expectations that the US Federal Reserve might opt for less aggressive rate hike approach.

India’s industrial output rose 5.2 per cent in January, as per the official data released after market hours on Friday.

On Monday, most of the Asian markets were in the green while American and European markets closed in the negative territory on Friday as investor sentiments were hit by the Silicon Valley Bank crisis.