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Sensex Surges Past 24,000 Points On Solid Global Cues; SBI Rallies 8%


Benchmark indices began the day on a solid footing surging past the 24,000 points mark on sustained buying support, following robust global cues.

The Sensex was trading with gains of 362 points, while the Nifty was up 109 points in trade.

 Sensex Surges Past 24,000 Points On Solid Global Cues; SBI Rallies 8%
Banking stocks were on fire once again, with private sector banks like Axis Bank and ICICI Bank leading gainers on the bourses. But, the biggest winner in trade today was State Bank of India, which jumped a huge 8 per cent in trade.

Other notable gainers were Hindalco and Yes Bank. HCL Tech and TCS were the only losers from the Nifty space in early morning trade.

Shares in Tata Motors rallied, following a hike in passenger vehicle rates. Wipro was trading higher after the company said that it has has completed its USD 460-million acquisition of HealthPlan Services earlier than expected.

Hero Motor Corp was in the limelight once again after the company posted a healthy growth of 13 per cent in vehicle sales.

Midcap stocks continued to see good buying interest with the index up a huge 2 per cent in trade. Leading the winners was Dewan Housing, Union Bank and Oriental Bank.

In fact, most of the PSU banks saw a jump of 5-10 per cent in trade.

Meanwhile, markets across Asia were trading with solid gains led by the Japanese Nikkei, which was up almost 4 per cent in trade.

Read more about: sensex nifty hinadlco tcs
Story first published: Wednesday, March 2, 2016, 9:28 [IST]
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