Sensex surges 657 points on positive cues from global stock markets

The Indian equities markets benchmark Sensex soared 657 points on Wednesday led by strong buying support in auto, IT, banking and financial stocks amid positive cues from the global markets.

Maruti Suzuki surged 4.14 per cent to Rs 8951.55. IndusInd Bank rallied more than three percent. HDFC Bank gained 2.5 per cent.

The 30 stock S&P BSE Sensex closed 657.39 points or 1.14 per cent higher at 58,465.97 points against its previous day's close at 57,808.58 points.

This is the second day of rally in the benchmark index. The Sensex had gained 187.39 points on Tuesday.

The broader Nifty 50 of the National Stock Exchange closed 197.05 points or 1.14 per cent higher at 17,463.80 points against its previous day's close at 17,266.75 points. The Nifty had gained 53.15 points on Tuesday.

There was strong buying support in banking and financial stocks. IndusInd Bank soared 3.02 per cent to Rs 965.55. HDFC Bank climbed 2.50 per cent to Rs 1497.70. Bajaj Finserv rose 1.77 per cent to Rs 16258.25. ICICI Bank closed 1.26 per cent higher at Rs 802.70.

The index heavyweight Reliance Industries closed 1.20 per cent higher at Rs 2383.95.

IT stocks also witnessed strong buying support. HCL Technologies surged 1.66 per cent to Rs 1181.55. Wipro rose 1.63 per cent to Rs 569.10. Tech Mahindra rose 1.49 per cent to Rs 1454.10. Infosys closed 1.22 per cent higher at Rs 1737.50.

Only three of the 30 scrips that are part of the Sensex closed in the negative. Sun Pharma fell 0.72 per cent to Rs 887.40. ITC and Power Grid Corporation also closed in the red.

( With inputs from ANI )

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