Indian Markets surged to end nearly 2% higher on Thursday, amid strong global cues - LuvKush Finserve

Markets surged to end nearly 2% higher on Thursday, amid strong global cues, led by bank shares after comments by the US Fed allayed fears of soon-than-expected easing of monetary stimulus measures and gains in the Indian rupee. Meanwhile, investors are also awaiting first quarter results by Infosys on Friday. The Sensex ended up 382 points or 1.98% at 19,676 levels and the Nifty ended up 118 points or 2.04% at 5,935 mark. The Sensex and the Nifty touched an intraday high of 19,724 mark and 5,949 levels, respectively.

Foreign Institutional Investors also turned buyers during the previous two sessions, exchange data showed. The rupee was trading at 59.66/67, falling sharply from a more than one-week high of 59.32 hit in opening deals as importers rushed in to buy the dollar.

BSE Metal index zoomed by almost 3% followed by counters like Realty, Banks, Oil & Gas, Capital Goods, PSU, TECk, FMCG and IT, all gaining by 2% each.

Apart from Consumer Durables, all the major BSE sectoral indices are trading in green zone. Shares of metal companies were in focus on the bourses by surging up to 6% as the dollar fell and weak Chinese data stoked hopes of monetary easing in the world's largest consumer of the industrial metal.

Source : Equity Bulls

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