Sensex surges 457 pts on global cues

Aided by good supportive cues from global markets including the United States, Indian markets witnessed a major comeback to post their biggest gains since November 11.

While the S&P BSE Sensex zoomed 457.41  points (1.74%) to end at 26,694.28, the Nifty 50 closed up 144.80 points (1.79%) at 8,246.85.

“The Sensex opened on a strong note given firm global cues led by the US markets which closed sharply higher on Wednesday, hitting new record highs. Euro markets also ended in the positive zone as investors bought in anticipation of further extension of ECB’s quantitative easing programme beyond March 2017. Even the Asian markets were trading in the green,” Kotak Securities vice president – Research Sanjeev Zarbade said.

Advances outnumbered declines nearly 4:1 on the NSE with 1,259 securities out of 1,672 advancing, 341 declining and 72 remaining unchanged. A total of 22 securities hit new 52-week high on the NSE while nine securities hit new 52-week low on the exchange.