Sensex rallies 629 pts; Nifty reclaims 11,400
Mumbai: The Sensex vaulted 629 points while the Nifty recaptured the 11,400-mark on Thursday as positive macroeconomic data and and renewed hopes of US stimulus turbocharged investor sentiment.
A sharp jump in the rupee -- which soared 63 paise against the US dollar -- and the government's Unlock 5 guidelines added to the bullish mood, traders said.
The 30-share BSE Sensex soared 629.12 points or 1.65 per cent to close at 38,697.05, led by banking and finance stocks.
The broader NSE Nifty advanced 169.40 points or 1.51 per cent to finish at 11,416.95.
IndusInd Bank was the top gainer in the Sensex pack, zooming 12.41 per cent, followed by Bajaj Finance, Axis Bank, ICICI Bank, Tech Mahindra, Bajaj Auto, Bajaj Finserv and Kotak Bank.
Only five index constituents closed in the red -- ITC, NTPC, Reliance Industries, Titan and ONGC, shedding up to 0.52 per cent.
Global equities rallied on expectations of the US announcing another massive stimulus in the next few days to shore up the coronavirus-hit economy.
BSE bankex, finance, telecom, realty, teck and IT indices rallied up to 3.73 per cent, while energy and consumer durables indices ended lower.
Broader BSE midcap and smallcap indices rose up to 0.73 per cent.
Indices in Europe were trading on a positive note in early deals.
International oil benchmark Brent crude was trading 0.76 per cent lower at $41.98 per barrel.
The rupee strengthened by 63 paise to close at 73.13 against the US dollar.