Nifty Regains 8200 Amid Broad Gains, Sensex Surges 350 Points

Sensex rose over 300 points while Nifty was firm above 8,200 on the back of gains in auto, banking, capital goods and metal shares amid positive global cues.

Asian shares hopped higher on Thursday after Wall Street strode to new records and bonds rallied on wagers the European Central Bank would extend its asset buying campaign at a policy meeting later in the session.

Overnight, Wall Street surged on Wednesday, with the Dow Industrials and S&P 500 hitting fresh records, as equities continued their march upward after the election of Donald Trump as U.S. president, and a new high for transportation stocks added to the bullish tone.

The Dow Jones industrial average rose 297.84 points, or 1.55 per cent, to 19,549.62, the S&P 500 gained 29.12 points, or 1.32 per cent, to 2,241.35 and the Nasdaq Composite added 60.76 points, or 1.14 per cent, to 5,393.76.

Back home, buying was visible across the sectors with banking, auto, capital goods, and metal indices rising over a per cent each.

From the Nifty basket of shares, 47 were advancing while only 4 shares were among the losers.

Tata Steel was the top Nifty gainer, up 2.2 per cent to Rs. 421. Tata Motors, Maruti Suzuki, Yes Bank, Adani Ports, Tata Power, HDFC, Bajaj Auto, Hero MotoCorp, State Bank of India and Infosys were also among the gainers, up 1-2 per cent each.

On the other hand, Dr Reddy’s Labs, Aurobindo Pharma, HCL Tech and Sun Pharma were among the notable laggards.

The broader markets were also trading higher with BSE mid-cap and small-cap rising nearlty 1 per cent each.

The overall market breadth was extremely positive as 1,068 shares advanced while 175 declined on the BSE.

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Source:ndtv

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