Sensex surges 380 points in early trade: What's fueling rally?
What's the story
The stock market opened on a positive note today, with the Sensex opening at 74,474.98 points—just above its previous close of 74,332.58.
The index gained over 380 points within minutes, hitting a high of 74,713.17 during the day. Meanwhile, Nifty rose by 97.50 points to reach 22,650.
The current rally in the stock market can be attributed to positive global cues. US jobs data showing steady employment figures have alleviated fears of an economic slowdown.
Comments
What did Jerome Powell say?
Comments from US Federal Reserve Chairperson Jerome Powell about the stability of the US economy have boosted global market sentiment. They have also eased concerns regarding a potential economic downturn.
Sector performance
Metal and FMCG stocks lead today's rally
In today's trading session, Nifty Metal was the top performer with a gain of 1.13%. It was followed closely by Nifty Media which advanced 1.06%.
Other strong sectors include Nifty FMCG which rose 0.73% and Nifty Financial Services 25/50 which climbed 0.61%.
Despite fears of US trade policies impacting market sentiment in the coming days, these sectors have shown a robust performance today.
Investor sentiment
Foreign institutional selling eases
Foreign Institutional Investors (FIIs) have been on an aggressive selling spree of Indian equities in 2025. However, the intensity of this selling appears to have eased in the last few days.
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, observed that "FII selling continued, but there are signs that it has slowed slightly."
Up to March 7, FIIs had offloaded stocks worth ₹24,753 crore this month alone.