Sensex, Nifty hold morning gains; Nikkei jumps 600 pts, oil dips

Equity benchmarks continued to hold morning gains, tracking strong global cues and on value buying. The market breadth remained positive as about 1694 shares advanced against 766 declining shares on Bombay Stock Exchange.

The 30-share BSE Sensex rose 468.13 points or 1.73 percent to 27595.03 and the 50-share NSE Nifty climbed 130.35 points or 1.57 percent to 8453.55. The BSE Midcap index gained 1.6 percent.

Asia markets traded higher, bolstered by election results in Japan and Australia and shrugging off concerns a strong US jobs report might push the Federal Reserve closer to hiking rates. Japan’s Nikkei 225 rallied 3.98 percent. Those gains came despite the yen remaining relatively strong against the US dollar.

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Posted in: Indian Market Tips