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Sensex surges 279 points to close at 37,393, Nifty up 100 points; IT, finance stocks shine

Mumbai: The BSE Sensex rebounded 279 points while the NSE Nifty reclaimed the 11,250 level on Thursday, propelled by gains in IT and financial stocks amid mixed global cues.

Both the key indices rallied in the last hour of trade after trading on a tepid note through most part of the day.

The 30-share BSE benchmark closed 278.60 points, or 0.75 percent, higher at 37,393.48. It hit an intra-day high of 37,518.94 and a low of 37,052.30.

Similarly, the broader Nifty rose 100.10 points, or 0.90 percent, to settle at 11,257.10. During the day, it hit a high of 11,281.55 and a low of 11,143.35.

 Sensex surges 279 points to close at 37,393, Nifty up 100 points; IT, finance stocks shine

Representative image. Reuters

Bajaj Finance was the biggest gainer in the Sensex pack, spurting 3.64 percent, after the company reported a jump of 50 percent in standalone net profit at Rs 1,114 crore for the March quarter.

Tata Motors, Infosys, Vedanta, ONGC, PowerGrid, NPTC, Axis Bank, ICICI Bank, Kotak Bank, SBI, HDFC Bank, Tata Steel, TCS and RIL too rose up to 3.48 percent.

On the other hand, Yes Bank was the top loser, cracking 4.07 percent, followed by Bharti Airtel, IndusInd Bank, Coal India, ITC, M&M, HDFC, Maruti and Asian Paints, shedding up to 1.87 percent.

Foreign institutional investors (FIIs) net sold shares worth Rs 1,142.44 crore on Wednesday, while domestic institutional investors (DIIs) purchased equities to the tune of Rs 671.77 crore, provisional data available with stock exchanges showed.

Bourses in China, Japan and Korea ended on a mixed note after US slapped sanctions on Chinese telecom major Huawei. European stocks opened in the red.

Meanwhile, the Indian rupee appreciated by 27 paise to 70.07 against the US dollar intra-day.

Global oil benchmark Brent crude was trading 0.56 percent higher at $72.17 per barrel.

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Updated Date: May 16, 2019 16:35:48 IST