Sensex zooms 318 points, Nifty tops 10,500-mark; IT, banking, metal, pharma stocks in demand

Mumbai: The BSE Sensex rebounded over 318 points on Thursday on robust buying in IT, banking, metal and pharma stocks amid mixed global cues.

This is the benchmark's biggest single session gain since 5 April, when its had surged by 577.73 points.

Unabated buying by domestic institutional investors (DIIs) contributed to the uptrend.

 Sensex zooms 318 points, Nifty tops 10,500-mark; IT, banking, metal, pharma stocks in demand

Representational image. Reuters.

The BSE Sensex stayed in the positive terrain throughout the session and hit a high of 34,741.46 intra-day, before finishing at 34,663.11 -- showing a sharp rise of 318.20 points, or 0.93 percent.

The gauge had lost 306.33 points in yesterday's trade.

The broader NSE Nifty scaled a high of 10,535.15 before closing at 10,513.85, up 83.50 points, or 0.80 percent.

Technology stocks rallied, with the IT index up 2.45 percent as TCS, Infosys, Wipro and HCL Technologies spurted following favourable rupee movement.

Pharma, banking, financials and metals stocks also lent support to the market.

Meanwhile, domestic institutional investors bought shares worth a net Rs 789.78 crore, while foreign portfolio investors (FPIs) sold equities worth Rs 311.11 crore yesterday, provisional data showed.

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Updated Date: May 24, 2018 17:10:21 IST