Sensex surges over 450 points to trade above 40,000-mark; Nifty above 11,850


NEW DELHI: Equity indices continued to surge on Thursday with the benchmark BSE sensex rising over 450 points to trade above 40,000-mark led by gains in IT stocks.
Sensex zoomed 452 points or 1.13 per cent to 40,331 in early trade; while the broader NSE Nifty moved 116 points or 0.99 per cent higher to 11,855.
Top gainers in the sensex pack included HCL Tech, Tata Consultancy Services, Infosys, Tech Mahindra, Tata Steel and Bajaj Finserv with their stocks up as much as 5.10 per cent.
On the NSE platform, all the sub-indices were trading in green with Nifty IT leading the pack by rising as much as 4.05 per cent.
IT stocks gained after TCS decided to buy back up to $2.2 billion in shares and smaller-rival Wipro said it would consider stock repurchase.

Shares of TCS as much as 4.8% to a record high of Rs 2,877.9 as operating margins for the September quarter rose to 26.2% from 24% a year earlier.
On the global front, a gauge of Asian shares climbed to a one-month high, as renewed hopes for more US stimulus helped restore investor confidence with markets now pricing in a Democratic victory during elections in November.
“It’s another good day for risk and equities have powered up,” Pepperstone strategist Chris Weston told news agency Reuters.

“Some talk of fiscal has been in play again, but this has become tiresome and the markets don’t need a reason to rally, they just don’t need to hear negative news. So, in the absence of any, we see equities flying and US Treasuries offered.”
(With agency inputs)



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