Sensex climbs 859 points; banking, infra stocks surge

Mumbai: The Indian equities markets key indices, Sensex and Nifty, surged by over one-and-a-half per cent on Wednesday led by strong buying support in banking, financial and infra stocks.

Taking cues from the rally in the global markets, the benchmark Sensex started the day sharply higher at 56,555.33 points and jumped to a high of 56,761.01 points in the morning trade. The 30 stock S&P BSE Sensex was trading 859.82 points or 1.54 per cent higher at 56,636.67 points at 12.28 pm, against its previous day’s close at 55,776.85 points.

The Sensex had lost 709.17 points or 1.26 per cent on Tuesday.

The broader Nifty 50 of the National Stock Exchange was trading 256.50 points or 1.54 per cent higher at 16,919.50 points against its previous day’s close at 16,663.00 points. The Nifty had lost 208.30 points or 1.23 per cent on Tuesday.

There was strong buying support in banking and financial stocks.

Axis Bank surged 3.77 per cent to Rs 724.55. IndusInd Bank jumped 3.35 per cent to Rs 926. Bajaj Finance soared 2.57 per cent to Rs 6836.05. Bajaj Finserv was trading 2.61 per cent higher at Rs 16119.20.

UltraTech Cement jumped 2.93 per cent to Rs 6197.05. Tata Steel soared 2.24 per cent to Rs 1261.25. Infosys rose 1.68 per cent to Rs 1870.

Only one of the 30 Sensex scrips was trading in the red. Sun Pharma fell 0.78 per cent to Rs 885.