Sensex crosses 500 points

The Sensex has rallied over 400 points led by gains in banking stocks, tracking positive cues from global markets. Equity indices has jumped higher on the back of firm global cues as US President Donald Trump has said that the trade deal with China may happen soon.

The 30-share index had been trading 514.33 points, or 1.33 percent, higher at 39,107.85 at 10.15 am whereas the broader Nifty rose 169.70 points, or 1.48 percent, to 11,609.90.

In the previous session, the BSE barometer has ended 503.62 points, or 1.29 percent, lower at 38,593.52. The broader NSE Nifty has plunged 148 points, or 1.28 percent, to 11,440.20.

Auto stocks had led gains on the NSE Nifty, with the sector’s subindex rising about 1%. India’s biggest automaker by market cap Maruti Suzuki was up by 2.23 percent.

ICICI Bank has also been among the gainers for the day, rising 2.5 percent and pushing the private-sector lenders index up 1.2 percent.

Top gainers in the Sensex pack in early trade has included ICICI Bank, IndusInd Bank, Kotak Bank, L&T, M&M, Bajaj Finance, ONGC, Tata Steel, Maruti, Bharti Airtel, Tech Mahindra and Asian Paints, surging up to 3 percent.

However, Yes Bank, HCL Tech, SBI, Infosys, HDFC, PowerGrid, ITC, Sun Pharma and TCS fell up to 3 percent.

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