Sensex surges over 600 points, Nifty ends above 11,300

Sensex surges over 600 points, Nifty ends above 11,300
Image Source: Google

Mumbai: Equity benchmark BSE Sensex surged over 645 points to close at 38,177.95 on Wednesday, propelled by gains in banking, financial and metal stocks.

After opening on a cautious note, the 30-share index gained momentum in afternoon trade. It finally closed at 38,177.95, showing a rise of 645.97 points or 1.72 percent.

Similarly, the 50-share NSE Nifty zoomed 186.90 points or 1.68 percent to finish at 11,313.30.

On the Sensex chart, IndusInd Bank was the biggest gainer, spurting 5.45 percent, followed by Bharti Airtel, ICICI Bank, SBI, M&M, Kotak Bank, Tata Steel and HDFC Bank.

On the other hand, Yes Bank was the biggest loser with 5.26 percent decline. Other laggards were Hero Motocorp, HCL Tech, ITC, TCS, Infosys, ONGC and Bajaj Auto, falling up to 2.65 to percent.

Stock markets were closed on Tuesday on account of 'Dussehra'.

The rupee was trading 3 paise lower at 70.98 against the US dollar (intra-day).

Brent futures, the global oil benchmark, rose 0.93 percent to USD 87.78 per barrel.

Asian markets were mixed following concerns over the US-China trade negotiations.