Mumbai: BSE Sensex and Nifty surged on Thursday, tracking gains in global markets. The Sensex rose over 550 points at its day’s high of 26,273 while Nifty was near 7,950. The rupee also traded higher. China stock markets registered their biggest gain today in two months, lifting the sentiment in domestic markets.The S&P BSE Sensex closed 516.53 points, or 2.01%, higher at 26,231.19, while the 50-share CNX Nifty of the National Stock Exchange (NSE) closed up 157.10 points, or 2.02% at 7,948.95.
US stocks snap a six-day losing streak on Wednesday after one of the most senior officials in the Fed said the turmoil that has gripped world financial markets had weakened the case for a rate rise in September. Asian stocks surge after hints the US Federal Reserve will not raise interest rates next month sparked a rally on Wall Street, but dealers cautioned the spectre of a slowing Chinese economy meant more turbulence ahead.
Indian stocks open stronger, taking cues from the broader gains in the Asian stock markets.The 30-share S&P BSE Sensex gains 335.09 points, or 1.3%, to 26,049.75, while the 50-share Nifty of the National Stock Exchange (NSE) is up 104.20 points, or 1.34%, to 7,896.05.
The rupee strengthened against the dollar and is currently trading at Rs 65.98, up by 19 paise. The rally in the local equities also provided some support to the rupee.