Sensex rallies over 350 points; Maruti, Airtel lead

Sensex rallies over 350 points; Maruti, Airtel lead

The benchmark BSE Sensex and the NSE Nifty opened higher on Thursday.

At 3:41 PM, the Sensex closed higher by 352 points or 1.08% at 32,949, while the Nifty50 gained 123 points or 1.22% to 10,167.

Sensex zoomed 179 Points or 0.55% to 32,776.34 while the wider Nifty was up by over 55 points or 0.55% to 10,099.35. "The Nifty would need to cross the previous intermediate high of 10,410 to reverse the current downtrend", he added.

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Value buying: Some low-level buying supported benchmark equity indices on Thursday.

Weak Asian cues as technology stocks tracked a sell-off in their U.S. counterparts that saw the Nasdaq tumbling over 1 per cent overnight, weighed on the sentiments, brokers said. Crude prices in the global markets slipped almost 3 per cent on Wednesday, its biggest daily decline in more than two months, after a sharp rise in USA inventories of refined fuel suggested demand may be weakening.

Out of 1,989 stocks traded on the NSE, 1,219 advanced, 474 declined and 296 remained unchanged today. Positive opening in European shares boosted investors' sentiment in the domestic market.

Major gainers in the 30-share index were NTPC (2.20%), Maruti Suzuki India (2.16%), Tata Steel (2.08%), Bajaj Auto (1.95%), and Larsen & Toubro (1.66%).

However, Sun Pharma, Wipro, Cipla, TCS and Coal India finished with losses. However, profit selling trimmed some gains off key indices in early afternoon trade.

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