After Wednesday's crash, Sensex now zooms 420 points

The BSE benchmark Sensex rallied to 448 points to 27,689.78 points in afternoon trade on value buying across the spectrum.

Higher asian cues amid overnight gains in the US markets following Donald Trump's shock win of US presidency and value buying lifted the key indices.

Market rallied on positive sentiments build on following three reasons.

• Trump's post-election speech fuelled positive sentiments.
• Possible rate hike post Trump victory.
• FIIs to infuse money to market after government crackdown on black money.

The Sensex was trading at 27,709.28 at 1110 hours,showing a gain of 456.75 points, or 1.68 per cent, from previous close.The 50-share Nifty was also rose by 153.90 points or 1.80 per cent to quote at 8,585.90. Major gainers were SBIN 8.12, Tata Steel 8.03 percent, CIPLA 5.73 per cent, ICICI Bank 5.15 per cent, AdaniPorts 4.98 per cent and Axis Bank 4.04 per cent.

Foreign portfolio investors (FPIs) sold shares worthRs 2,095 crore yesterday, as per provisional data. Overseas, Asian markets trading higher to join aglobal rebound on speculation that Donald Trump will pursuebusiness-friendly policies. The US stocks rallied, led by asurge in financial, health-care and industrial stocks, asinvestors bet on the infrastructure spending policy promisedby the President-elect Donald Trump. 

(With inputs from PTI)