Mumbai: Equity benchmark Sensex rallied 420 points on Thursday, led by stellar gains in IT major Infosys, even as global markets faced selling pressure amid spiking coronavirus cases.
After a choppy start, the 30-share BSE Sensex gained momentum towards the end of the session. It finally closed 419.87 points, or 1.16 per cent, higher at 36,471.68.
Similarly, the NSE Nifty surged 121.75 points, or 1.15 per cent, to end at 10,739.95.
Infosys was the top performer in the Sensex pack, rallying 9.56 per cent, a day after the IT major posted a stronger-than-expected 12.4 per cent rise in first quarter consolidated net profit to Rs 4,272 crore.
M&M, Nestle India, IndusInd Bank, Kotak Bank, HCL Tech, Bajaj Finance and Axis Bank were the other gainers, spurting up to 3.81 per cent.
On the other hand, Tech Mahindra, ITC, NPTC, PowerGrid, Titan and ICICI Bank finished with losses of up to 2.54 per cent.
Stock exchanges in Europe were also trading in the red in early deals. "In spite of negative global cues, Indian benchmark indices gained strength as the day went on, powered by the IT index and Infosys in particular.
BSE IT, teck, healthcare, bankex, auto, oil and gas, finance and metal indices surged up to 4.14 per cent, while telecom, power and utilities indices closed lower.
Meanwhile, international oil benchmark Brent crude futures fell 0.71 per cent to $43.48 per barrel.
In the forex market, the rupee settled 3 paise lower at 75.18 against the US dollar.