Sensex surges 300 pts, Nifty Bank reclaims 18000; FMCG, infra up

The market surged further in afternoon trade with the Sensex rising 300 points or 1.12 percent to 27076.90, driven by banks, FMCG, infra and auto stocks. The Nifty is inching towards 8300, up 92.10 points or 1.12 percent at 8293.15.

The market breadth remained positive as about 1483 shares advanced against 985 declining shares on Bombay Stock Exchange. The BSE Midcap index gained 0.6 percent and Smallcap was up 1.1 percent.

Nifty Bank touched 18000 level for the first time since October 26, 2015 after the Reserve Bank of India maintained accommodative policy stance, though pointing inflation concerns. State Bank of India and ICICI Bank surged 4 percent each

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Posted in: Indian Market Tips