Sensex Ends 483 Points Higher Led By IT, Banking Stocks

The Sensex and the Nifty ended the day sharply higher led by solid gains in banking and IT stocks. Global cues also relatively better, with most Asian markets ending the day higher, while Dow Futures were pointing to higher openings.

A rally in oil prices, following Middle East tensions, also helped push markets around the globe higher.

The Sensex ended the day higher by 483 points, while the Nifty gained 126 points.

IT and banking stocks led the rally with some solid gains. Kotak Mahindra Bank, Infosys, TCS and Zee Entertainment. Shares in IndiaBulls Housing Finance rallied after the company said that it had remitted payment of external commercial borrowings.

Shares in Marico fell 2 per cent, after a business update at the company, in which it stated that production and distribution were running at a reduced capacity.

Kotak Mahindra Bank was among the top gainers in trade, after Morgan Stanley upgraded the stock to a buy.

Meanwhile, most European markets were trading higher, while Dow Futures was pointing to higher openings for the US markets.

GoodReturns.in