Sensex jumps over 300 points, Nifty re-gains 10,500

The rally was led by Bharti Airtel, Infosys, TCS, Axis Bank, Sun Pharma, SBIN, ICICI Bank, Tata Steel, Kotak Bank, M&M, HDFC and Dr Reddy, by rising upto 4.11 percent.

Sensex jumps over 300 points, Nifty re-gains 10,500

New Delhi: Sensex soared over 300 points while Nifty re-gained 10,500 in closing trade on Thursday on value buying with IT and banking stocks gaining the most.

However, heavy selling pressure on auto, consumer durables and oil and gas stocks arrested further gains.

The BSE Sensex which had opened at 34,404.14 points jumped 318.20 points or 0.93 percent to close at 34,663.11. Similarly the NSE Nifty jumped 83.50 points or 0.80 percent at 10,513.85. The Sensex touched a high of  34741.46 points and a low of 34367.83 points during the intra-day trade.

The rally was led by Bharti Airtel, Infosys, TCS, Axis Bank, Sun Pharma, SBIN, ICICI Bank, Tata Steel, Kotak Bank, M&M, HDFC and Dr Reddy, by rising upto 4.11 percent.

Scrip-wise, shares of Tata Motors declined the most to 6.56 percent, the company reported 49.82 percent decline in consolidated net profit for the March quarter. Homegrown auto major Tata Motors yesterday reported 49.82 percent decline in consolidated net profit at Rs 2,176.16 crore for the March quarter with its British arm JLR continuing to face challenges in the UK and Europe, in addition to one-time impairment charge.

Oil and Natural Gas Corp (ONGC) fell 4.50 percent amidst reports that the government may levy a windfall tax on oil producers as part of a permanent solution it is working on for moderating the spiralling retail prices of petrol and diesel.

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