Sensex Rallies 900 Points, Surges Past 33,000 Points

The Sensex was witnessing hectic across the bpard buying, led by strong gains across Asia, after Chinese data released over the weekend showed the country's factory activity expanding in May. The phased unlocking of the country, also led to heavy buying support.

All of the major Asian markets including the Japanese Nikkei, Hong Kong's Hang Sang were trading with gains of 1 to 3 per cent. The Sensex too opened strong and was higher by almost 900 points, while the Nifty rallied 265 points in trade.

Banking stocks were once again leading the rally with most of the stocks from the sector trading with gains. The Bank Nifty itself was up close to 3 per cent.

Shares in Infosys gained more than 1 per cent, even after the company said that profitability might get impacted due to the Covid 19 pandemic.

In a press release to the exchanges the company has stated many of its clients' business operations have been negatively impacted due to the economic downturn - resulting in postponement, termination, suspension of some ongoing projects with us and/or reduced demand for our services and solutions.

Andhra Paper saw its shares locked at the upper end of the circuit filter after Q4 net profits at the company rose to Rs 92.92 cr versus Rs 59.90 crores.

Meanwhile, the rupee gained 14 paise and was trading at 75.61 to the dollar.