Sensex rallies 701 points on positive global cues; HUL, RIL, SBI surge

The Indian stock market's benchmark Sensex surged 701 points on Thursday led by strong buying support in FMCG, energy, banking and IT stocks as positive cues from the global equities boosted investors' sentiments.

The 30 stock S&P BSE Sensex surged 701.67 points or 1.23 per cent to 57,521.06 points against its previous day's close at 56,819.39 points.

Earlier, the Sensex opened in the positive at 57,296.31 points. However, it slumped to a low of 56,936.94 points in the morning trade. The markets firmed up in the afternoon on positive cues from the European equities. The Sensex surged to a high of 57,790.85 points in the intra-day.

The benchmark Sensex had lost 537.22 points or 0.94 per cent on Wednesday.

The broader Nifty 50 of the National Stock Exchange surged 206.65 points or 1.21 per cent to 17,245.05 points against its previous day's close at 17,038.40 points. The Nifty opened in the positive at 17,189.50 points and surged to a high of 17,322.50 points in the intra-day.

Hindustan Unilever surged 4.55 per cent to Rs 2241.80. Nestle India rose 0.68 per cent to Rs 18350.

The index heavyweight Reliance Industries Limited rose 1.49 per cent to Rs 2819.20. State Bank of India soared 2.02 per cent to Rs 507.05.

Asian Paints 3.18 per cent higher at Rs 3248.30; Power Grid Corporation 2.79 per cent higher at Rs 235.65; NTPC 2.67 per cent higher at Rs 159.70; L&T 2.58 per cent higher at Rs 1720; Infosys 1.94 per cent higher at Rs 1583.30 and Sun Pharma 1.60 per cent higher at Rs 920.35 were among the major Sensex gainers.

Only four of the 30 scrips that are part of the benchmark Sensex closed in the red. Bharti Airtel slipped 0.84 per cent to Rs 747.25. Mahindra & Mahindra, HCL Technologies and HDFC Bank also closed in the red.

( With inputs from ANI )