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Sensex jumps 280 points, Nifty above 11,000; banks lead the rally

FPIs bought shares worth a net of Rs 783.55 crore, while domestic institutional investors sold equities worth Rs 126.82 crore, provisional data showed.

Sensex jumps 280 points, Nifty above 11,000; banks lead the rally

The BSE Sensex jumped 280.71 points or 0.76 percent to close at 37,384.99 while the NSE Nifty jumped 93.10 points or 0.85 percent to end at 11,075.90.

Major gainers in the Sensex pack were Vedanta, ICICI Bank, ONGC, Kotak Bank, Axis Bank, SBI, M&M, Infosys, Powergrid, NTPC, HCL Tech and Bajaj Finance, rising upto 2.72 percent. On the other hand shares of Bharti Airtel, Sun Pharma, HDFC Bank, ITC and HUL were the major losers, falling upto 1.35 percent.

Meanwhile, FPIs bought shares worth a net of Rs 783.55 crore, while domestic institutional investors sold equities worth Rs 126.82 crore, provisional data showed.

Experts believe the key macro-economic data released by government on Thursday also boosted market sentiments. Data showed that India's industrial output rose 4.3 percent in July, as against 2 percent in June. The country's IIP stood at 6.5 in the same period last year. Meanwhile the country's retail inflation stood at 3.21 percent in August as against 3.15 percent last month and 3.69 in the same period last year.

In the previous session on Thursday markets snapped its 5-day rally with the BSE Sensex falilng 166.54 points or 0.45 percent to close at 37,104.28 while the NSE Nifty dropped 52.90 points or 0.48 percent to 10,982.80.