SENSEX jumps over 700 points in morning trade, NIFTY50 tops 23,580; L&T gains 2%, RailTel zooms 9%

At 10:47 AM, the S&P BSE SENSEX was trading at 77,667.42, up 761.91 points, or 0.99%, while the NSE's NIFTY50 index was trading at 23,585.90, up 235.50 points, or 1.01%.

On the SENSEX, 24 out of 30 constituents were trading in the green. The biggest contributors to the index's gains were HDFC Bank, RIL, L&T, and Kotak Mahindra Bank.

The bulls continued their dominance after remaining in the driver's seat throughout last week.

On Friday, March 21, SENSEX and NIFTY50 surged nearly 1%, marking their fifth day of rise on the back of fresh foreign fund inflows and gains in bank stocks.

The 30-share BSE Sensex jumped 557.45 points or 0.73% to settle at 76,905.51. During the day, it surged 693.88 points or 0.90% to 77,041.94. The NSE NIFTY50 climbed 159.75 points or 0.69% to 23,350.40.

Experts said the US Fed has suggested the possibility of two rate cuts this year reigniting the optimism in the domestic market.

Foreign institutional investors (FIIs) net bought equities worth ₹7,470.36 crore on Friday, according to exchange data.

As regards today's session, the market breadth was in favour of bulls.

According to the NSE data, out of 2,541 stocks traded on the NSE, 2,103 advanced, while 372 stocks declined.

Broader Market

The BSE MidCap index was trading at 42,181.25, up 349.68 points, or 0.84%, while the BSE SmallCap index was trading at 47,858.02, up 561.21 points, or 1.19%.

Buzzing Stocks

The board at its meeting also approved the appointment of Subramanian Sarma, Whole-time Director & President, Energy, as the Deputy Managing Director & President of the company with effect from April 2, 2025, to February 3, 2028.

Sector Watch

Barring IT and consumer durable stocks, all sectoral indices were trading in the green. The biggest gainers were capital goods and industrial stocks.

Last seen, the BSE CAPITAL GOODS index was trading at 62,859.66, up 957.88 points, or 1.55%.

Global Markets

Financial markets made a mixed start to trading on Monday, with US stock futures rising but the dollar wavering ahead of a week driven by data, Chinese earnings and the threat of steep US tariff hikes on the horizon.

S&P 500 futures were up about 0.6% in the Asian morning, and Nasdaq 100 futures rose 0.8%. Japan's Nikkei and Hong Kong's Hang Seng climbed about 0.2%, Reuters reported.