Sensex Zooms Over 500 Points, Nifty Above 17,700 Amid Strong Global Cues

The Indian equity benchmarks were trading on a positive note on Thursday as indicated by the SGX index. The BSE Sensex surged as much as 548 points, whereas Nifty 50 index surged as much as 17,768.

At 9:20 am, the BSE Sensex was trading 398 points or 0.68 per cent higher at 59,427, whereas the Nifty 50 index advanced 118.50 points or 0.67 per cent at 17,742. The Nifty Midcap 50 index was trading 0.55 per cent to 8,747 points, whereas the Nifty Midcap 100 index was trading 0.65 per cent to 32,071. All sectoral indices witnessed strong buying between 0.33 per cent to 1.10 per cent. 

The US stocks ended higher on Wednesday, breaking the three-week losing streak, as small companies’ stocks outpaced the market. The S&P 500 surged by 71.68 points or 1.8 per cent to 3,979, whereas the Dow Jones Industrial Average advanced 435.98 points or 1.4 per cent to 31,81. While the Nasdaq rose 246.99 points or 2.1 per cent to 11,791, the Russell 2000 index was trading 39.68 points or 2 per cent higher at 1,832.

Meanwhile, the Asian stocks were trading higher on Thursday. Japan’s Nikkei advanced 2.08 per cent, whereas South Korea’s KOSPI surged 0.3 per cent. While China’s Shanghai Composite advanced marginally at 0.19 per cent, Shenzhen Component declined by 0.14 per cent. Singapore’s Hang Seng index was trading 0.17 per cent.

Back home, Asian Paints, UltraTech Cement, Tech Mahindra, Bharti Airtel, ICICI Bank, Infosys, Mahindra & Mahindra, Bharti Airtel, Bajaj Twins, and HDFC were amongst the top gainers.