Sensex jumps nearly 400 pts, Nifty Bank zooms 485 pts; Airtel up 8%

Benchmark indices extended gains in late morning trade, backed majorly by banks and telecom stocks. The increase in India ranking by World Bank in ease of doing business boosted sentiment.

The 30-share BSE Sensex rallied 373.41 points or 1.12 percent to 33,586.54 and the 50-share NSE Nifty surged 97.60 points or 0.94 percent to 10,432.90.

About two shares advanced for every share falling on the BSE.

CLSA has upgraded Bharti Airtel to buy from underperform and raised target price to Rs 637 from Rs 430 per share as consolidation & data have revived long-term growth.

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Posted in: Indian Market Tips