market watch

Sensex surges 348 points, Nifty closes above 10,000 on strong Asian, US markets

Shares of Tata Consultancy Services rose on both indices on expectations of a rise in its July-September earnings.

The Indian benchmark indices surged on Thursday based on positive cues from Asian markets as well as the United States. The Bombay Stock Exchange Sensex finished 348.23 points up at 32,182.22, and the National Stock Exchange’s Nifty50 closed 111.60 points higher at 10,096.40.

Mukesh Ambani’s Reliance Industries was the top gainer on the Sensex. The other top performers were Sun Pharma, Tata Consultancy Services, Axis Bank and Unilever. The biggest losers on the Sensex were Bharti Airtel, Coal India, Infosys, BHEL and Asian Paints.

The top five gainers on the Nifty on Thursday were Hindalco, Bharti Infratel, Reliance Industries, Sun Pharma and Aurobindo Pharma. The five stocks that declined the most were Bharti Airtel, UltraTechCement, Indian Oil Corp, UPL and Infosys.

Shares of Tata Consultancy Services rose on both indices on expectations of a rise in its July-September earnings. The company is likely to release the data later in the day.

All major Asian indices closed higher, except the Shanghai SE Composite Index that declined 2.18 points. The Hong Kong Hang Seng finished 69 points higher, the Taiwan TSEC 50 Index ended 70 points up, and Japan’s Nikkei 225 gained 73 points.

The rupee rose to 65.09 a dollar at 4.30 pm, after opening flat at 65.14.

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