Sensex up 380 points; Nifty recaptures 15,300

Sensex by 380 points;  Nifty recaptures 15,300

The stock benchmark Sensex rose 380 points on Wednesday, led by gains in index majors Infosys, HDFC and TCS amid a largely positive trend in Asian markets.

The 30-share BSE index rose 379.99 points, or 0.75 percent, to 51,017.52, and the broader NSE Nifty rose 93 points, or 0.17 percent, to 15,301.45.

Bajaj Finserv was the biggest climber in Sensex with a jump of almost 5 percent, followed by Bajaj Finance, Infosys, M & M, Maruti and HDFC.

On the other hand, PowerGrid, NTPC, ONGC and Kotak Bank were among the laggards. “Domestic stocks remained bullish as the improved visibility of the economic recovery after the second quarter of fiscal 22 continued to fuel investor sentiment,” said Binod Modi, director of strategy at Reliance Securities.

Aside from metals, most of the major industry indices traded in the green. IT stocks rallied strongly on positive comments from select management on strong execution despite the second wave of pandemics, he added.

In other Asian countries, the Shanghai, Hong Kong and Tokyo stock exchanges ended positively, while Seoul was in the red. Stocks in Europe were mixed in mid-session deals. The international oil benchmark Brent crude was quoted unchanged at USD 68.50 per barrel.

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