Sensex, Nifty rally 1%; HDFC Bank, Maruti Suzuki hit record high

Bulls kept complete control over Dalal Street as the benchmark indices rallied over a percent on short covering and value buying on after correction and consolidation in previous four sessions. Indication of delay in Fed rate hike from recent data points also lifted market sentiment.

The 30-share BSE Sensex was up 328.41 points or 1.16 percent at 28741.30 and the 50-share NSE Nifty gained 93.65 points or 1.07 percent at 8836.20.

The broader markets also climbed over a percent on strong breadth. About three shares advanced for every share falling on the Bombay Stock Exchange.

HDFC Bank and Maruti Suzuki touched record highs of Rs 1,305 (up 1.8 percent) and Rs 5,585 (up 2.5 percent), respectively.

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Posted in: Indian Market Tips