Sensex surges by 461 points on higher global cues
The BSE benchmark Sensex was up by 461 points in early trade on Thursday on fresh buying in metal, banking, auto, realty, consumer durables and capital goods stocks on the back of higher global cues.
The BSE benchmark Sensex resumed higher at 16,555.93 and shot up further to 16,718.11 before quoting at 16,584.26 at 1015 hours, a net gain of 460.80 points, or 2.86 per cent, from its previous close.
The NSE's 50-share Nifty index was also up by 135.90 points, or 2.81 per cent, at 4,967.95 at 1015 hours.
The market breadth, indicating the overall health of the market, was strong. All the shares from 30-member Sensex pack were trading in positive terrain.
Metal stocks jumped after the LMEX, a gauge of six metals traded on the London Metal Exchange, surged by 5 per cent yesterday.
Tata Steel, Jindal Saw, Sail, Hindustan Zinc, Nalco, Jindal Steel & Power, Hindalco Industries, Sterlite Industries and JSW Steel were up by between 2.21 per cent and 8.07 per cent in early trade.
Meanwhile, Asian shares extended their gains in early trade after the world's six major central banks moved to tame a liquidity crunch for European banks by providing cheaper dollar funding.
The key benchmark indices in China, Hong Kong, Japan, Indonesia, Singapore, South Korea and Taiwan were up by between 2.08 per cent and 5.71 per cent.
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