Global Markets in Green: Dow Jones, Nasdaq, and Asian Indices Show Strong Gains
Sensex Surges 609 Points to 74,340; Nifty Climbs 207 Points as Metal, Pharma, and Oil & Gas Stocks Rally
On Thursday, March 6, the Indian stock market experienced a strong rally, with the Sensex soaring 609 points to close at 74,340, while the Nifty gained 207 points, settling at 22,544. The surge was driven by robust performances in metal, pharma, and oil & gas stocks.
Sectoral Performance: Metal, Pharma, and Oil & Gas Drive Gains
The Nifty Metal and Oil & Gas indices registered an impressive 2.5% jump, while the Pharma and FMCG indices gained approximately 1.5%. The Auto and Media indices also closed nearly 1% higher.
Among the top gainers on the Sensex were Asian Paints, Reliance, and NTPC.
Global Markets: Positive Sentiment Prevails
The Asian markets followed a similar upward trend:
Japan’s Nikkei rose 0.82%, while Hong Kong’s Hang Seng index surged 2.58%.
China’s Shanghai Composite climbed 1.05%.
On March 5, foreign institutional investors (FIIs) offloaded shares worth ₹2,895 crore, while domestic institutional investors (DIIs) countered with purchases worth ₹3,370 crore.
The US stock market also ended higher on March 5:
The Dow Jones surged 1.14%, closing at 43,006.
The S&P 500 gained 1.12%, while the Nasdaq Composite advanced 1.46%.
Stock Market Performance on March 5
On Wednesday, March 5, the Sensex rallied 740 points to close at 73,730, while the Nifty jumped 254 points to 22,337.
The biggest gains were observed in metal stocks and public sector banks:
The Nifty Metal Index surged 4.04%, while the Public Sector Bank Index gained 3%.
The Media Index climbed 3.14%, the Auto Index advanced 2.60%, and the IT Index rose 2.13%.
The Realty Index gained 2.32%, while the Healthcare and Pharma indices added around 1.5%.
With global markets maintaining a bullish momentum and investor sentiment improving, the Indian stock market continues its upward trajectory, supported by strong sectoral growth and favorable economic indicators.
