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Sensex surges 415 points; metal, tech stocks rally amid on strong global cues
Mumbai: The Indian stock market's benchmark Sensex was trading with a gain of over 400 points in the afternoon session on Thursday led by strong buying support in metal, tech and auto stocks amid strong cues from the global equities.
The 30 stock S&P BSE Sensex was trading 414.94 points or 0.71 per cent higher at 58,480.41 points at 1.12 pm against its previous session's close at 58,065.47 points. Tracking the rally in the global equities markets, the Sensex started the day sharply higher at 58,314.05 points and soared to a high of 58,578.76 points. The Sensex touched a low of 58,290.47 points in the intra-day.
This is the second consecutive day of strong rally in the Indian equities markets. The Sensex had gained 1276.66 points or 2.25 per cent on Tuesday, the previous trading day.
The broader Nifty 50 of the National Stock Exchange jumped 119.45 points or 0.69 per cent to 17,393.75 points against its previous session's close at 17,274.30 points.
The Nifty had gained 386.95 points or 2.29 per cent on Tuesday.
There was strong buying support in metal, tech and auto stocks. Tata Steel surged 2.13 per cent to Rs 103.30. L&T jumped 2.11 per cent to Rs 1911.
IT stocks rallied. HCL Technologies jumped 1.97 per cent to Rs 964.30. Infosys climbed 1.85 per cent to Rs 1456.30. Wipro jumped 1.22 per cent to Rs 410.55.
Maruti Suzuki soared 1.07 per cent to Rs 8780.20. The index heavyweight Reliance Industries Limited was trading 1.01 per cent higher at Rs 2437.50. ICICI Bank soared 2.73 per cent to Rs 891.30.
Axis Bank, State Bank of India, ITC, Sun Pharma, Titan, Tech Mahindra, Mahindra & Mahindra, TCS and NTPC were among the major Sensex gainers.
Hindustan Unilever slumped 1.96 per cent to Rs 2615. Bharti Airtel, Bajaj Finance, IndusInd Bank, Power Grid Corporation and HDFC were among the major Sensex losers. (ANI)