Sensex jumps over 300 points, Nifty50 tops 10,750; Avanti surges 7%

NEW DELHI: Benchmark indices climbed 315 points, almost 1 per cent, in Thursday's trade tracking firm cues from global markets.

US stocks posted strong 1.5 per cent gain in overnight trade. Asian markets too were trading at a two-month high. The domestic indices were no exception.

At 10:45 am, the BSE Sensex was ruling at 35,492.28, up 0.89 per cent. NSE barometer Nifty50 rose 0.86 per cent, to 10,776.

Midcap and smallcap indices surged up to 1 per cent.


"Since the ‘Nifty Midcap’ index was deeply oversold and was hovering around the multiple support zone, some relief was on cards.We expect continuation of this stock-specific relief rally and hence, traders are repeatedly advised to focus on such potential candidates," Angel Broking said in a note.

Sensex stock ICICI Bank climbed 1.87 per cent to Rs 289.10. Infosys, Tata Motors, Bajaj Auto and Adani Ports and Reliance Industries added 1.87 per cent, 1.37 per cent, 1.30 per cent and 1.18 per cent, respectively. Bharti Airtel fell 0.85 per cent to Rs 377.10.

Shares of Videcon locked at 5 per cent lower circuit limit at Rs 8.62 after the National Company Law Tribunal (NCLT) on Wednesday admitted a plea from lenders, led by SBI, to initiate a resolution process with a new owner to be found through a bidding process over the next 180 days.

HCL Infosystems gained 4 per cent even as Apple India said it will terminate the distribution arrangement with HCL Infosystems for iPhone and other products from March 30 next year.

Shares of HDFC Bank were trading higher after reports that the lender hiked its marginal cost of funds based lending rate (MCLR) by 10 basis points across tenures.

The scrip was up 0.42 per cent at Rs 2067.75.

Asian shares rose to 2 1/2-month high early on Thursday, supported by strong economic fundamentals, while expectations the European Central Bank could start to wind down its stimulus boosted the euro and global bond yields, Reuters reported.