Sensex & Nifty jumps on strong global cues

The S&P BSE Sensex rallied as much as 341 points in trade on Thursday, tracking Asian markets which were trading higher on upbeat U.S. employment data and a halt to a slide in oil tempered investor risk aversion.At 09:30 a.m.; the 30-share index was at 27191, up 282 points or 1.05 per cent. It touched a high of 27249.98 and a low of 27191.51 in trade today.The Nifty was at 8191 up 89 points or 1.1 per cent. It touched a high of 8209.85 and a low of 8181.85 in trade today.

Tracking the momentum, the 50-share Nifty index also managed to reclaim its crucial psychological level of 8200, supported by gains in banks, consumer durable, capital goods, IT and realty stocks.

Overnight, US markets rallied over 1 per cent as minutes from the most recent Federal Reserve meeting reassured investors the bank was in no hurry to start raising interest rates.

“US Federal Reserve is still expected to lift interest rates, although the timing remains unclear. Minutes of the December meeting released on Wednesday offered no new clues on when the Fed will move,” Reuters reported.

The S&P BSE Midcap Index was up 1.39 per cent and BSE S&P Smallcap Index edged higher by 1.32 per cent.Coal IndiaBSE 1.87 % (up 2.4 per cent), Tata MotorsBSE 2.57 % (up 2.2 per cent), SBI (up 1.4 per cent), HDFC (up 1.3 per cent) and HindalcoBSE 0.70 % (up 1.24 per cent) were among the major Sensex gainers.Hero MotocorpBSE -0.04 % was the only loser among the 30-share sensitive index constituents, down 0.5 per cent.

Source: Economictimes

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