Sensex rallies 490 points to finish at 39,055, Nifty also jumps by 150 points

The benchmark BSE Sensex jumped over 100 points in early trade on Wednesday and rallied over 450 points to end at 39,054.68. The NSE Nifty too rose by 150.20 point to settle at 11,726.15.

In the previous session, the BSE bourse settled 80.30 points, or 0.21 per cent, lower at 38,564.88 and the broader NSE Nifty too slipped 18.50 points, or 0.16 per cent, to close at 11,575.95.

HCL Tech and ONGC were the top gainers in the Sensex, rising up to 3.40 per cent. IndusInd Bank, Yes Bank, Bharti Airtel, HDFC, HDFC Bank, RIL, Bajaj Finance, SBI, TCS, Infosys, ICICI Bank and ITC too rose up to 2.75 per cent.

On the other hand, Tata Motors, Hero MotoCorp, Coal India, PowerGrid, Maruti, Axis Bank and NTPC fell up to 3.33 per cent. According to traders, market sentiment turned positive as investors took positive cues from US equities and easing crude oil prices. Brent crude futures, the global oil benchmark, were trading 0.50 per cent lower at USD 74.14 per barrel.

Aditya Birla Group firm UltraTech Cement on Wednesday reported a consolidated net profit of Rs 1,014.19 crore for the fourth quarter ended March 31. Sectorally, BSE oil and gas, telecom and energy indices gained the most, rising up to 2.32 per cent. Banking, finance and IT indices too ended in the green. The auto index was the only loser, dropping 0.29 per cent. In the broader markets, the BSE midcap and smallcap indices advanced up to 0.43 per cent.

Meanwhile, foreign institutional investors (FIIs) sold equity worth Rs 237.47 crore on Tuesday, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 198.35 crore, provisional data available with stock exchanges showed.

The rupee, however, depreciated 15 paise to 69.77 against the US dollar in early trade. 

(With inputs from PTI)