Equity benchmark indices opened higher for the second consecutive session led by gains in Reliance Industries, HDFC Bank, ICICI Bank, and L&T. Meanwhile, all eyes will be on macro data such as IIP for the month of January and the inflation rate for the month of February, which is scheduled to be released today.
The Sensex rallied 351 points to 37,405, while the Nifty was up 98 points to 11,266. The market breadth was positive with 1,302 shares advancing, 284 shares declining, and 469 remaining unchanged on the BSE.
On the sectoral front, realty index gained 2% led by DLF, and Prestige which were up over 4%, followed by Indiabulls Real Estate, and Oberoi Realty.
Shares of HDFC Life Insurance Company Ltd slipped 4% in the morning trade. The company said that its promoter, Standard Life will sell 70cr shares or 3.47% stake through an offer for sale (OFS) on March 12 and 13.
Shares of PSP Projects jumped 4% after the company received work orders worth Rs602cr.