Sensex makes big gains for second day in a row, crosses 26,000 mark
The benchmark Nifty also rose beyond 8,000 for the first time since November, while international crude oil prices hit a seven-month high.
The Bombay Stock Exchange Sensex rose by 485 points on Thursday, a day after it surged to a one-month high. The index closed at 26,366.68, while the 50-share Nifty ended 134 points up at 8,069.65. The last time Nifty had crossed the 8,000 mark was on November 5, 2015, The Economic Times reported.
Investors went on a buying spree as the Narendra Modi government marked two years in office, and experts said they expect a further surge. Among the Indian companies, Larsen & Toubro, Infosys, Tata Motors, HDFC and Dr Reddy’s Laboratories made major gains.
In addition to a positive mood at home, the rise was attributed to strong global cues, as crude prices reached a seven-month high of $50 a barrel.