Stock Market: Sensex Jumps Over 300 Points, Nifty Trades Nears 17,700 Amid Global Cues

Stock update: Tata Steel, State Bank of India, IndusInd Bank, Hindustan Unilever, Titan, Bajaj Finserv, Bharti Airtel, and Axis Bank were among the lead gainers on the BSE

The broader markets also reflected similar resilience as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.7 per cent.

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Sensex and Nifty, the two key equity benchmarks, on Thursday opened in the green amid robust global cues. The domestic indices rallied in early trade, tracking gains in banking, finance, and metal stocks.

At 10.30 am, the BSE Sensex climbed 305 points to 59,391, while the broader NSE Nifty advanced 85 points to 17,690.

From the 30-share Sensex platform, Tata Steel, State Bank of India, IndusInd Bank, Hindustan Unilever, Titan, Bajaj Finserv, Bharti Airtel, and Axis Bank were among the lead gainers. On the flip side, HCL Technologies emerged as the only loser.

The broader markets also reflected similar resilience as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.7 per cent.

All sectors turned in the green zone. Nifty Media, Nifty Realty, and Nifty IT lead the charge.

On specific stocks, Bharti Airtel rose as much as 2 per cent after Singapore Telecommunications said it would sell a 3.3 per cent stake in Airtel to Bharti Telecom for an aggregate consideration of about $1.61 billion.

In the previous session on Wednesday, the BSE benchmark climbed 54 points (0.09 per cent) to settle at 59,085, the Nifty went up by 27 points (0.16 per cent) to 17,604.

“The resilience of the Indian market even amidst global volatility can be attributed mainly to two factors: one, the strong growth momentum in the economy and two, the steady FII flows even when the dollar has been appreciating,” said V K Vijayakumar, chief investment strategist, Geojit Financial Services. 

In Asia, markets in Seoul, Tokyo and Shanghai were trading in the green in mid-session deals. Wall Street had ended higher on Wednesday.

Meanwhile, the international oil benchmark Brent crude climbed 0.45 per cent to $101.68 per barrel.

Foreign Institutional Investors (FIIs) bought shares worth Rs 23.19 crore on Wednesday, according to exchange data.