Sensex Surges Over 600 Points, Nifty Near 10,600 Led By Auto, IT Shares

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Sensex Surges Over 600 Points, Nifty Near 10,600 Led By Auto, IT Shares

S&P BSE Sensex and NSE Nifty 50 indexes extended gains in noon deals led by gains in Infosys, HDFC, Reliance Industries, Tata Consultancy Services, HDFC Bank and Larsen & Toubro. The Sensex rose as much over 600 points to trade above 36,000 and Nifty 50 index moved closer to its psychological level of 10,600 ahead of weekly expiry of index futures and option contracts due later in the day. Buying in Infosys, HDFC, Reliance Industries, TCS and HDFC Bank contributed over 350 points towards gain in the Sensex.

As of 2:13 pm, the Sensex was up 566 points at 35,980 and Nifty climbed 159 points to 10,589.

All the 19 sector gauges compiled by the BSE were trading higher led by the S&P BSE Information Technology index’s over 3 per cent gain.

Auto, capital goods, consumer durables, oil & gas, power, industrials, finance and energy sector shares were also trading on a strong note as the respective indices rose between 1-2.3 per cent.

Mid- and small-cap shares were also witnessing buying interest as S&P BSE MidCap index rose 0.94 per cent and S&P BSE SmallCap index advanced 1.2 per cent.

Mahindra & Mahindra was top Nifty gainer, the stock rose over 5 per cent to Rs 525 after its tractor sales rose 12 per cent year-on-year to 35,844 units in June.

Hero MotoCorp, Infosys, ONGC, Indian Oil, HCL Technologies, TCS, HDFC, Wipro, Larsen & Toubro, Titan, Tats Steel and Tech Mahindra also rose between 2.3-4.9 per cent each.

On the flipside, Axis Bank, UPL, Britannia Industries, Hindustan Unilever, Eicher Motors, Vedanta, Zee Entertainment, NTPC and Coal India were among the notable losers.

The overall market breadth was positive as 1,686 shares were advancing while 945 were declining on the BSE.

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