Markets rally on macro-economic data; Nifty soars 142 pts

An ambience of optimism and promising growth outlook on the back of thriving economic activity triggered a wave of sustained buying on the bourses, catapulting the benchmark Nifty to hit a three-month high.
The 50-share index rose by a massive 141.50 points - its biggest single day spike over one-month - to finish at 7,850.45 on the National Stock Exchange (NSE) here.
Improved business confidence backed by better tone of the economy mainly spearheaded the rally even better monsoon forecast offered all-round cheer to investors mood.
Excitement over the healthy economic data released by the government yesterday showed a marked fall in retail inflation, which eased to a six-month low of 4.8 per cent in March, boosting chances of further rate cuts this year.

While, industrial production grew 2 per cent year on year in February after staying negative for the last 3 months.
Broad-based buying was seen across the sectors led by auto, fianancial, metal, FMCG, infra and energy stocks. The rally was not restricted to large-cap stocks as mid-cap and small-cap stocks too jumped.

The bullish mood was further underpinned by highly buoyant global sentiment after China's March exports logged their first increase since June and the largest rise since Feb 2015, adding to recent signs of stabilisation in the world's second-biggest economy.
Robust FII buying also bolstered investors' sentiment amid strong signs of economic recovery and policy measures to keep growth momentum at a healthy pace.

After a strong start supported by investors' frantic appetite for growth sectors, the key indices continued its sprint while consolidating all its gains till the end session.
In the meantime, oil prices surged above USD 42 - its highest level in 2016 - on reports of an agreement between Saudi Arabia and Russia on freezing output.
The 50-share index opened firmly higher at 7,777.15 and powered ahead to hit an intra-day high of 7,864.80 before ending at 7,850.45, revealing a solid jump on 141.50 points, or 1.84 per cent.
Among sector wise, Nifty Auto soared 3.51 per cent. It was followed by Pvt Bank (2.48 per cent), Nifty Bank (2.32 per cent), Metal (2.31 per cent), FMCG (2.21 per cent), PSU Bank (1.75 per cent), Realty (1.45 per cent), Energy (1.34 per cent), Infra (1.08 per cent), Pharma (0.78 per cent) and Tech (0.42 per cent). The Midcap and smallcap indices rose by 0.96 per cent and 0.81 per cent, respectively.

Biggest index movers included ICICI Bank, ITC, M&M, HDFC, HDFC Bank, Reliance, Tata Motors, Maruti, HUL, Bajaj Auto, SBI, Kotak Bank, Heromotoco, Ultratechcem and Wipro.
However, Infosys was the top loser ahead of its earnings alongwith Zee, HCL-Tech and Adani Ports.
Turnover in cash segment jumped to Rs 19,278.89 crore against Rs 15,911.06 crore yesterday.
A total of 9,601.94 lakh shares changed hands in 83,79,626 trades. The market capitalisation of the NSE stood at Rs 95,16,029 crore.