Sensex jumps 300 pts, Nifty reclaims 7200: Hindalco, ICICI lead

The market gained more than 1 percent in early trade, tracking positive trend in global peers and oil rally. All sectoral indices were trading in green.

The 30-share BSE Sensex rose 297.08 points or 1.27 percent to 23678.95 and the 50-share NSE Nifty jumped 86.90 points or 1.22 percent to 7195.35. The BSE Midcap and Smallcap indices also gained more than 1 percent.

The market breadth was strong as about five shares advanced for every share declining on the Bombay Stock Exchange.

Hindalco Industries, Dr Reddy’s Labs, Tata Motors, ICICI Bank, ONGC, Bank of Baroda, Vedanta and Cairn India rallied 2-5 percent while Bharti Airtel and Idea Cellular were in red.

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Posted in: Indian Market Tips