Sensex Surges 350 Points On Upbeat US Jobs Data

Benchmark indices opened the day substantially higher with the Sensex hitting a fresh 2016 peak, as global markets surged, following an upbeat US Jobs data.

The Sensex was trading with gains of 374 points, while the Nifty was higher by 75 points.

Tata Motors too rallied more than 2 per cent, after global sales for the month of June at the company surged.

Shares in IndusInd Bank were trading higher ahead of the company's results to be declared later today. PSU Banking stocks gained ground with stocks of Andhra Bank, Syndicate Bank and Bank of India leading the gainers in trade.

Shares in L&T were higher ahead of its subsidiary L&T stakes sale. L&T Infotech's IPO opens for sale later today.

Pharma major Lupin said that the US health regulator has voiced minor concerns after completing the inspection of its Dabhasa facility in Gujarat.

The stock was down 1 per cent in trade. Shares in Crompton Greaves was subdued in a rising market after the company said that HDFC Mutual Fund has trimmed stake in the company by 2.07 per cent.

Meanwhile, markets across Asia surged in trade with the Japanese Nikkei, the Shanghai Composite and the Singapore's Strait Times among the major gainers.

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