Sensex rallies 380 pts, Nifty reclaims 15,300

Mumbai, May 26 (PTI): Equity benchmark Sensex rallied 380 points on Wednesday, led by gains in index majors Infosys, HDFC and TCS amid a largely positive trend in Asian markets.
The 30-share BSE index ended 379.99 points or 0.75 per cent higher at 51,017.52, and the broader NSE Nifty surged 93 points or 0.17 per cent to 15,301.45. Bajaj Finserv was the top gainer in the Sensex pack, jumping nearly 5 per cent, followed by Bajaj Finance, Infosys, M&M, Maruti and HDFC. On the other hand, PowerGrid, NTPC, ONGC and Kotak Bank were among the laggards. “Domestic equities remained upbeat as improved visibility about economic recovery from 2QFY22 continued to lift investors’ sentiments,” said Binod Modi, Head – Strategy at Reliance Securities.
Barring metals, most key sectoral indices traded in green. IT stocks witnessed sharp rebound after positive commentary of select managements about strong execution delivery despite the second wave of pandemic, he added. Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo ended on a positive note, while Seoul was in the red. Equities in Europe were trading on a mixed note in mid-session deals.
The Shanghai Composite Index rose 0.5per cent to 3,599.07 while Tokyo’s Nikkei 225 added 0.2per cent to 28,604.47. The Hang Seng in Hong Kong gained 0.9per cent to 29,162.48. The Kospi in Seoul was unchanged at 3,171.67 and Sydney’s S&P-ASX 200 advanced 0.1per cent to 7,122.40. New Zealand declined, while markets in Singapore, Thailand and Indonesia were closed for holidays.
European stocks rose to near all-time highs on Wednesday as a host of central bank policymakers pledged to keep monetary policy loose despite recent signs of an uptick in inflation. The pan-European STOXX 600 index rose 0.3% by 0711 GMT, with Germany’s DAX up 0.4%, France’s CAC 40 rising 0.3% and UK’s FTSE 100 adding 0.2%.

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