Markets surge: Sensex up by 0.6%, Nifty increases to 17,072.60
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with gains
Equity benchmark Sensex rose by 385 points on Thursday, following gains in index majors Infosys, ITC and HDFC amid a positive trend overseas.
The 30-share index jumped 384.72 points or 0.68% to end at 57,315.28. Similarly, the NSE Nifty advanced 117.15 points or 0.69% to 17,072.60. PowerGrid was the top gainer in the Sensex pack, rising around 4%, followed by ITC, Bajaj Finance, Infosys, NTPC and Tech Mahindra.
Markets hold strong in afternoon session
On the other hand, Bharti Airtel, Sun Pharma, Maruti and UltraTech Cement were among the laggards.
“Indian markets opened in green following positive Asian market peers as investors reacted to studies about reduced risk of hospitalisation and severe disease with Omicron compared to Delta,” said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.
During the afternoon session, markets continued their firm trade. Additional support came as rating agency ICRA stated that profitability of sugar, fertiliser and dairy sectors will remain stable in FY22, he noted.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with gains. Stock exchanges in Europe were also trading on a positive note in mid-session deals. Meanwhile, international oil benchmark Brent crude slipped 0.08% to $75.22 per barrel.