MUMBAI: The BSE benchmark Sensex jumped 1,131 points on Tuesday, March 18, reclaiming the 75,000 level, as widespread buying and a bullish trend in global markets lifted investor sentiment. The NSE Nifty also surged 1.45 per cent, marking a strong rebound for Indian equities.
Extending its previous session’s rally, the 30-share Sensex climbed 1,131.31 points or 1.53 per cent to close at 75,301.26. During the day, it soared 1,215.81 points or 1.63 per cent to hit an intraday high of 75,385.76.
The broader Nifty jumped 325.55 points or 1.45 per cent to settle at 22,834.30, supported by gains across key sectors.
Among the Sensex constituents, Zomato led the charge with a sharp rise of over 7 per cent. ICICI Bank, Mahindra & Mahindra, Tata Motors, Larsen & Toubro, Asian Paints, Titan, Kotak Mahindra Bank, and State Bank of India (SBI) also posted strong gains, contributing to the market’s rally. However, Bajaj Finserv, Bharti Airtel, Tech Mahindra, and Reliance Industries ended in the red.
Bajaj Finserv deal
Bajaj Finserv shares declined over 1 per cent after the company signed share purchase agreements to acquire a 26 per cent stake owned by Allianz SE of Germany in its insurance subsidiaries – Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company.
The deal, valued at Rs10,677 crore, will make Bajaj Finserv the sole owner of these businesses.
Analysts attribute the market rally to strong global cues, optimism around the US Federal Reserve’s policy stance, and steady foreign fund inflows.
With investor sentiment remaining upbeat, market participants will now focus on upcoming macroeconomic data and central bank decisions for further direction.
