Sensex reclaims 40,000-mark after more than 7 months on surge in IT stocks, positive global cues; Nifty at 11,800

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After soaring over 600 points during the day, the 30-share index ended 303.72 points higher at 40,182.67

Market benchmark BSE Sensex on Thursday reclaimed the psychological 40,000-mark for the first time after a gap of over seven months since COVID-19 pandemic outbreak in the country buoyed by robust buying in IT stocks amid positive global cues.

Equity benchmark indices, however, gave up the early gains before closing in the positive zone.

After soaring over 600 points during the day, the 30-share index ended 303.72 points, or 0.76 percent, higher at 40,182.67.

This is the first time since February 25, 2020, the Sensex went past the 40,000-mark at close.

The broader NSE Nifty rose 95.75 points, or 0.82 percent, to end at 11,834.60.

Top gainers in the Sensex pack included Ultratech Cement, TCS, HCL Tech, Infosys, HDFC Bank and Sun Pharma.

Tata Consultancy Services jumped over 3 percent after it announced a mega Rs 16,000 crore buyback plan at Rs 3,000 per equity share.

ONGC, ITC, PowerGrid, Reliance, Asian Paints and L&T ended in the red.

On the NSE, except for Nifty FMCG, all sectoral indices were in the green with Nifty IT up by 3.2 percent, pharma by 2.6 percent and private bank by 0.9 percent.

Among stocks, Wipro added 7.34 percent to Rs 359.90 per share as the board of directors said it will be considering a proposal to buy back equity shares next week.

In the forex market, the rupee strengthened by 9 paise to settle at 73.24 against the US dollar.

With inputs from agencies

Image credit: Financial Express

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