Sensex Surges Over 450 Points, Nifty Above 12,050 On Strong Global Cues

The S&P BSE Sensex and NSE Nifty 50 indexes extended gains in noon deals on the back of strong global cues after the United States and China moved closer to a resolution to the 18-month trade war between the world's two biggest economies. Meanwhile, Prime Minister Boris Johnson winning a resounding election in United Kingdom on Friday also boosted investor sentiment globally. HDFC, Axis Bank, Tata Consultancy Services, Infosys and State Bank of India were among the top movers in the Sensex.

As of 3:05 pm, the Sensex rose 455 points or 1.12 per cent to 41,036 and the Nifty 50 index was up 1 per cent or 120 points at 12,092.

Seventeen of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Metal index's 2 per cent gain. The S&P BSE Realty, Capital Goods, Bankex, Auto, Finance and Basic Materials indexes also rose between 0.9-1.4 per cent each.

On the other hand, S&P BSE Telecom index was top loser, down 1.8 per cent.

Mid- and small-cap shares were also witnessing buying interest as the S&P BSE MidCap and S&P BSE SmallCap indexes rose 0.7 per cent each.

Vedanta was top gainer in the Nifty 50 basket of shares, the stock rose 3.65 per cent to Rs 149. Axis Bank, Tata Motors, Hindalco, Yes Bank, State Bank of India, IndusInd Bank, Tata Consultancy Services, Tata Steel and HDFC were also among the gainers.

On the flipside, Dr Reddy's Labs, Bharti Airtel, Bharti Infratel, Kotak Mahindra Bank, Zee Entertainment, Britannia Industries, Bajaj Auto and Nestle India were among the losers.

The overall market breadth was positive as 1,392 shares were advancing while 798 were declining on the BSE.