HomeBusinessStock Market Updates: Sensex Gains 200 pts, Nifty Above 17,400; TechM Up...

Stock Market Updates: Sensex Gains 200 pts, Nifty Above 17,400; TechM Up 8%, Yes Bank Falls 9%

Last Updated: March 13, 2023, 09:34 IST

Why is Stock Market Rising Today?

Sensex Today: Indian indices opened higher on March 13 with Nifty around 17,400.

Sensex Today: Indian indices opened higher on March 13 with Nifty around 17,400. Key indices Nifty50 gained over 100 points to trade above 17,500 levels, the S&P BSE Sensex advanced over 300 points to trade around 59,462 levels.

Broader markets, however, were tepid as Nifty Midcap 100 and Nifty Smallcap 100 indices lowered up to 0.1 per cent.

Sectorally, Nifty IT, and Nifty Metal indices led the charge as it gained over 1 per cent each. On the flipside, Nifty Media, and Nifty Auto indices were bogged down in trade.

Among individual stocks, shares of Tech Mahindra soared over 8 per cent as Infosys’ veteran Mohit Joshi is set to replace C P Gurnani as MD & CEO.

Global Cues

Asian shares mostly fell Monday, shaken by a Wall Street tumble that set off worries the biggest U.S. bank failure in nearly 15 years might have ripple effects around the world. Japan’s benchmark Nikkei 225 slipped 1.2% to 27,817.43 in morning trading. Australia’s S&P/ASX 200 slipped 0.6% to 7,104.30. South Korea’s Kospi was little changed at 2,394.10.

Tokyo stocks opened lower on Monday after a rout on Wall Street as banking shares wobbled on contagion fears after the failure of regional lender Silicon Valley Bank (SVB).The benchmark Nikkei 225 index was down 1.76 percent, or 495.49 points, at 27,648.48 about 80 minutes after the opening bell, while the broader Topix index lost 2.14 percent, or 43.43 points, to 1,988.15.

US stocks closed sharply lower and Treasury yields extended their slide on Friday over fears of contagion in the financial sector and strong February employment data showing the economy added more jobs than expected.

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