Sensex Surges in Early Trade; ITC, ICICI Bank Rally

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The Sensex and the Nifty rallied in early trade on the back of strong global cues after the US Dow Jones closed at another record high.

Sensex Surges in Early Trade; ITC, ICICI Bank Rally
The Sensex was trading 232 points higher, while the Nifty was up 46 points in trade. Leading gainers from the Nifty and the Sensex were stocks like ITC which rallied after reports that the sale of loose cigarettes has been put on hold.

Jindal Steel which had rallied sharply on Wednesday gave-up gains and was trading flat. ICICI Bank whose shares today began trading at a slit face value of Rs 2, was trading up by almost 2 per cent.

DLF was trading marginally higher after reports that the company is planning to sell a stake in DLF Cybercity. Cairn India which has been consistently falling on reports of a fall in creude prices managed to gain ground marginal ground today.

PSU banking stocks which have been gaining ground in the last few trading sessions after the Credit Policy continued to move higher. Stocks like Canara Bank, IDBI Bank, Union Bank of India and Bank of India were among the gainers.

TCS and Infosys were among the software stocks that were trading with gains. Meanwhile, Asian markets were all trading with gains with the Japanese Nikkei hitting a seven and half year high.

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