Sensex jumps over 200 pts; bank, metal stocks soar

MARKET

Domestic equity benchmark BSE Sensex jumped over 200 points in early trade Thursday tracking strong cues from global markets after US Federal Reserve Chairman Jerome Powell hinted at a rate cut soon.

The 30-share index, however, gave up some gains to trade 106.35 points, or 0.28 per cent, higher at 38,663.39 at 0930 hours. Similarly, the broader Nifty rose 33.80 points, or 0.29 per cent, to 11,532.70.

Top gainers in the Sensex pack included Vedanta, Tata Steel, SBI, Tata Motors, ONGC, PowerGrid, Yes Bank, Sun Pharma and M&M, rising up to 2 per cent.

On the other hand, Bajaj Finance, TechM, Asian Paints, Infosys, ICICI Bank, Hero MotoCorp, Bajaj Auto, Kotak Bank and TCS fell up to 1.50 per cent.

In the previous session, the 30-share gauge settled 173.78 points or 0.45 per cent lower at 38,557.04; and the Nifty ended 57 points, or 0.49 per cent, lower at 11,498.90.

On a net basis, foreign institutional investors sold equities worth Rs 604.94 crore, while domestic institutional investors purchased shares to the tune of Rs 667.40 crore, provisional data available with stock exchanges showed Wednesday.