Sensex jumps over 817.06 points, trading at 55,464.39; Nifty rises by 249.55

Mumbai: The Indian equities markets key indices rallied for the third straight day on Thursday with the benchmark Sensex gaining 817 points as trends showed BJP leading in four out of five state assembly elections.

A decline in crude oil prices on expectations of a positive outcome from Russia-Ukraine talks has also boosted the market sentiments.
The 30 stock S&P BSE Sensex surged 817.06 points or 1.50 per cent to 55,464.39 points, against its previous day’s close at 54,647.33 points.

Earlier, the Sensex started the day 1,595.14 points higher at 56,242.47 points. This also remained the highest point for the intra-day. However, the Sensex pared part of the gains in the afternoon session slipping to a low of 54,982.82 points.

This is the third straight day of the rally in the benchmark Sensex. The index had gained 1223.24 points or 2.29 per cent on Wednesday.

The broader Nifty 50 of the National Stock Exchange surged 249.55 points or 1.53 per cent to 16,594.90 points. The Nifty had gained 331.90 points or 2.07 per cent on Wednesday.

There was broad-based buying support. Only three of the 30 stocks that are part of the Sensex closed in the red.

Hindustan Unilever surged 5.17 per cent to Rs 2101. Tata Steel surged 4.27 per cent to Rs 1308.40. State Bank of India surged 3.70 per cent to Rs 468.60. IndusInd Bank and Axis Bank both surged by more than three per cent.

The index heavyweight Reliance Industries soared 1.68 per cent to Rs 2393.25.

Tech Mahindra 1.28 per cent down at Rs 1485; Dr Reddy’s Laboratories 0.78 per cent down at Rs 3894.15 and TCS 0.36 per cent down at Rs 3620.10 were the Sensex losers.