Sensex jumps 575 pts

Mumbai: Benchmark Sensex spurted by 575 points while Nifty closed above 25,300 on Wednesday on buying in banking and financial shares, driven by a rally in Asian and European markets amid hopes of a rate cut by the US Federal Reserve later this month.

The 30-share BSE Sensex jumped 575.45 points or 0.70 per cent to settle at 82,605.43. During the day, it surged 697.04 points or 0.84 per cent to 82,727.02.

The 50-share NSE Nifty climbed 178.05 points or 0.71 per cent to 25,323.55.

Among Sensex firms, Bajaj Finance and Bajaj Finserv were the biggest gainers. Asian Paints, Larsen & Toubro, Trent, UltraTech Cement, Eternal and Adani Ports were also among the winners.

However, Tata Motors, Infosys, Tech Mahindra and Axis Bank were among the laggards.

Sector-wise, most indices ended in the green, with realty, financials, and metals leading the advance..

The BSE midcap gauge jumped 1.07 per cent and smallcap climbed 0.78 per cent.

As many as 2,503 stocks advanced while 1,659 declined and 164 remained unchanged on the BSE.