Sensex Surges Over 600 Points; Led By Titan, Auto Stocks
NDTV
The markets rallied on Thursday, boosted by sharp gains in auto stocks, while Titan Company surged to a record high after it indicated a strong recovery in demand in the second quarter
The markets rallied on Thursday, boosted by sharp gains in auto stocks, while Titan Company surged to a record high after it indicated a strong recovery in demand in the second quarter. The S&P BSE Sensex was up 0.99 per cent at 59,775.55 and NSE Nifty 50 index rose 0.97 per cent to 17,816.25.
In the previous session, the benchmark indexes fell 1 per cent each after global equities saw a sharp sell-off as sky-high oil prices stoked inflationary concerns.
On Thursday, however, most Asian markets rose, reflecting overnight gains on Wall Street after U.S. politicians appeared close to a deal to avert a debt default, while Russia reassured Europe on gas supplies and oil prices pulled back from multi-year highs, helping calm volatile global markets.
"Global cues have improved - domestically things are looking up with unlocking and we can expect this momentum to hold until there are fresh domestic triggers," said Narendra Solanki, head of equity research (fundamental) at Anand Rathi Investment Services.
