Sensex surges 515 points; IT, banking, financial stocks soar

Mumbai: The Indian stock market’s key indices surged by around one per cent on Thursday with the benchmark Sensex climbing above 59,000 points mark led by strong buying support in IT, banking and financial stocks.

The 30 stock S&P BSE Sensex surged 515.31 points or 0.88 per cent to 59,332.60 points against its previous day’s close at 58,817.29 points. Tracking the positive cues from the global equities markets, the Sensex started the day sharply higher at 59,320.45 points and surged to a high of 59,484.99 points in the intra-day. The Sensex hit a low of 59,251.14 points in the intra-day.

The broader Nifty 50 of the National Stock Exchange surged 124.25 points or 0.71 per cent to 17,659.00 points.

The Nifty started the day sharply higher at 17,711.65 points and surged to a high of 17,719.30 points in the intra-day.

There was strong buying support in IT, banking and financial stocks.

Axis Bank surged 2.75 per cent to Rs 759.20. HDFC soared 2.14 per cent to Rs 2449.10. State Bank of India soared 1.95 per cent to Rs 524.55. Kotak Bank soared 1.46 per cent to Rs 1854.15. HDFC Bank rose 1.42 per cent to Rs 1486.75.

Tech Mahindra soared 2.12 per cent to Rs 1077.15. Wipro rose 1.93 per cent to Rs 438.40. The country’s largest IT firm Tata Consultancy Services climbed 1.98 per cent to Rs 3422.45.

The index heavyweight Reliance Industries Limited closed 0.32 per cent higher at Rs 2590.20.

Only 11 out of the 30 scrips that are part of the benchmark Sensex closed in the red. ITC slipped 1.56 per cent to Rs 306.30. NTPC slumped 1.38 per cent to Rs 153.55. Hindustan Unilever rose 1.04 per cent to Rs 2612.35. Bharti Airtel fell 0.76 per cent to Rs 709.55.

Maruti Suzuki, Nestle India, Power Grid Corporation, Asian Paints, and Mahindra & Mahindra were among the major Sensex losers.