Market extends gains: Sensex zooms over 500 points; Nifty recaptures 8,000-mark

Zee Media Bureau

The benchmark BSE Sensex soared over 500 points while the NSE Nifty regained the 8,000-mark in afternoon trade Thursday on sustained buying by funds and retail investors amid firm overseas cues.

Rising for the second straight session, the BSE 30-share barometer surged 481.63 points, or 1.86 percent, to 26,362.80 after moving in range of 26,395.64-25,941.51.

The gauge had gained 576 points in the previous session.

Also, the NSE Nifty gained 136.95 points, or 1.73 percent, to 8,071.85 after moving in range of 8,083-7,948.50.

Pick-up in buying activity in recently beaten down stocks also boosted the sentiment. Besides, better-than-expected Q4 earnings by some corporates too influenced trading sentiments.

In other Asian markets, Tokyo shares gained Thursday morning, as energy stocks spiked after Brent crude soared above $50 a barrel for the first time this year, while markets focused on a G7 leaders` summit in Japan.

The benchmark Nikkei 225 index at the Tokyo Stock Exchange climbed 0.29 percent, or 48.28 points, to 16,805.63 by the break, while the broader Topix index of all first-section shares rose 0.28 percent, or 3.79 points, to 1,346.67.

With Agency Inputs