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Rediff.com  » Business » Sensex zooms 318 points; Nifty tops 10,500-mark

Sensex zooms 318 points; Nifty tops 10,500-mark

May 24, 2018 16:35 IST

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

Illustration: Uttam Ghosh/Rediff.com

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 April 5, when it had surged by 577.73 points.

 

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

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 per cent.

The gauge had lost 306.33 points in Wednesday'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 per cent.

Technology stocks rallied, with the IT index up 2.45 per cent 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 on Wednesday, provisional data showed.

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