In an upward trend, Sensex rallies 380 pts, Nifty surges 93 points to 15,300

 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% higher at 51,017.52, and the broader NSE Nifty surged 93 points or 0.17% to 15,301.45.

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Bajaj Finserv was the top gainer in the Sensex pack, jumping nearly 55, 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.

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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.

Meanwhile, international oil benchmark Brent crude was trading flat at USD 68.50 per barrel.