Overseas, Asian stocks were trading higher on the back of a strong performance in U.S. markets overnight. U.S. stocks snapped a five-day losing streak to close higher Monday as technology shares rallied, offsetting some of the gloom from Boeing Co.'s woes after the second deadly crash in about six months involving the company's 737 Max 8 aircraft.
In US data, U.S. retail sales unexpectedly rose in January. Retail sales rose 0.2%. Data for December was revised down to show retail sales dropping 1.6% instead of tumbling 1.2% as previously reported.
Back home,the market clocked steep gains on Monday, 11 March 2019, following the announcement of general election 2019 dates on Sunday by the Election Commission of India (EC). The Sensex rose 382.67 points or 1.04% to settle at 37,054.10, its highest closing level since 19 September 2018. The Nifty 50 index rose 132.65 points or 1.2% to settle at 11,168.05, its highest closing level since 19 September 2018.
The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 3810.60 crore yesterday, 11 March 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 1955.55 crore yesterday, 11 March 2019, as per provisional data.
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