Bulls roar: Sensex up 400 pts; Tata Steel, Adani Ports gain 3-4%

Bulls have taken a complete control over Dalal Street as the Sensex surged nearly 400 points after pricing in RBI's unexpected rate status quo and due to renewed buying interest from FIIs.

The 30-share BSE Sensex surged 387.77 points or 1.48 percent to 26624.64 and the 50-share NSE Nifty gained 119.15 points or 1.47 percent at 8221.20.

The market breadth remained strong but the gap between advance and decline narrowed.

About three shares advanced for every share falling against 5:1 ratio in early trade on the BSE.

Tata Steel, Tata Motors and Adani Ports were the biggest gainers, up 3-4 percent followed by ITC, Maruti Suzuki, Hero Motocorp and Coal India with 2-2.5 percent upside.

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Posted in: Indian Market Tips