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Sensex Soars 535 Points; Nifty At 16,780

RTTNews | 1076 days ago

Sensex Soars 535 Points; Nifty At 16,780

(RTTNews) - Indian shares rose sharply on Thursday, mirroring positive global cues on the back of better-than-expected results from mega-cap tech companies and Fed Chair Jerome Powell's comments that he doesn't believe the U.S. is in a recession.

The benchmark S&P BSE Sensex climbed 535 points, or 1 percent, to 56,350 in early trade, while the broader NSE Nifty index was up 0.8 percent at 16,780.

IT stocks such as Infosys, TCS, Wipro, HCL Technologies and Tech Mahindra jumped 1-2 percent after the Nasdaq Composite logged its biggest single-day gain since April 2020 overnight.

Bajaj Finance soared 8 percent after reporting its highest-ever consolidated quarterly net profit for the June quarter.

Tata Motors fell 2.5 percent after widening its quarterly net loss.

GAIL fell about 1 percent after its board approved a 1:2 bonus issue.

SpiceJet shares plunged almost 7 percent. Following multiple snags, the budget airline has been ordered by the aviation regulator to operate only 50 percent of its flights for eight weeks.

Multiplex operator PVR rose 0.6 percent after raising ticket prices.

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