03:07
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The Sensex jumped 380.07 points or 1.47 percent to 26261.24 and the Nifty climbed 97.75 points or 1.23 percent to 8032.65 but the market breadth was not strong.
About 1325 shares advanced against 1153 declining shares on BSE.
Equity benchmarks touched fresh 2016 high today, driven by infra, banks, FMCG and IT stocks, despite mixed global cues. The broader markets underperformed with the BSE Midcap and Smallcap indices rising 0.6 percent each.
L&T continued to be leading contributor to benchmarks’ gains, up over 12 percent as brokerages upgraded as well as raised target price after Q4 earnings beat expectations.
State Bank of India was up nearly 4 percent ahead of quarterly earnings that will be announced on May 27. ONGC, too, gained 2.7 percent ahead of earnings later today.
Infosys, ICICI Bank, Axis Bank, M&M, Maruti and HUL rose 1-2 percent while Sun Pharma and NTPC fell a percent each.
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