Share Market Update: Sensex soars over 300 pts on global ques; Nifty crosses 10,800

The key domestic indices S&P BSE Sensex and NSE Nifty 50 extended gains during the mid-morning trade deals on Thursday.

Even the Asian stocks advanced today tracking a surge on Wall Street. (Image: AFP)

Share Market Update: The key domestic indices S&P BSE Sensex and NSE Nifty 50 extended gains during the mid-morning trade deals on Thursday. Tracking positive global cues and health buying in blue-chip stocks, the domestic stock market opened in green. As per reports, Sensex opened over 350 points higher, while the Nifty traded past 10,800-level. The short-covering of bets on the last session of November futures and options (F&O) derivatives series kept the market mood upbeat. The sentiments were also observed to be strong as the Indian currency posted massive gains to past the 70 mark against the US dollar for the first time since August 27. The 30-share index, which had gained 203.81 points in the previous sessions, spurted 364.32 points, or 1.02 per cent, to trade at 36,081.27. Even Nifty was also trading 80.30 points or 0.74 per cent, higher at 10,809.15. Major gainers were Vedanta, RIL, Tata Steel, ITC, PowerGrid, IndusInd Bank, Bajaj Auto, Tata Motors, SBI, HUL and ICICI Bank, rising up to 3.81 per cent. Taking about top losers, Yes Bank fell 4.55 per cent, ONGC 1.89 per cent, Coal India 1.27 per cent, TCS 0.93 per cent and Infosys 0.35 per cent. Stocks of metal, FMCG, power, banking, auto, consumer durables, healthcare, capital goods, realty, oil and gas and PSU sectors were leading the market rally today. Brokers believe that the market mood remained buoyant, bolstered by foreign institutional investors' buying coupled with a firming trend overseas tracking a Wall Street rally overnight after US Federal Reserve Chairman Jerome Powell said that the central bank's benchmark interest rate is likely to be near a neutral level, reported news agency PTI. According to provisional data with the stock exchange, the Foreign Portfolio Investors (FPIs) bought shares worth a net of Rs 961.26 crore on Wednesday, while domestic institutional investors sold shares to the tune of Rs 330.29 crore. Even the Asian stocks advanced today, tracking a surge on Wall Street, after the chairman of the US Federal Reserve suggested it may nearing an end to its three-year rate tightening cycle, boosting interest in riskier assets, said a Reuters report. (With agency inputs)