Sensex rises 300 points; banking, IT stocks surge

Mumbai (Maharashtra) [India], August 26 (ANI): The Indian stock market’s key indices, Sensex and Nifty, were trading with gains of over half per cent in the afternoon session on Friday helped by good buying support in banking and IT stocks.
The 30 stock S&P BSE Sensex was trading 299.56 points or 0.51 per cent higher at 59,074.28 points at 12.42 pm against its previous day’s close at 58,774.72 points.
Earlier, the Sensex started the day sharply higher at 59,050.67 points and surged to a high of 59,321.65 points in the early morning trade.
The Sensex had lost 310.71 points or 0.53 per cent on Thursday.
The broader Nifty 50 of the National Stock Exchange was trading 99.40 points or 0.57 per cent higher at 17,621.85 points.
The Nifty started the day sharply higher at 17,619.30 points and touched a high of 17,685.85 points in the morning trade.
The Nifty had lost 82.50 points or 0.47 per cent on Thursday.
There was good buying support in banking, infra and IT stocks.
NTPC surged 2.99 per cent to Rs 163.70. Titan soared 2.88 per cent to Rs 2538.05. Kotak Bank surged 2.55 per cent to Rs 1917.
Tata Steel, Tech Mahindra, Power Grid Corporation, Mahindra & Mahindra, L&T, State Bank of India and Infosys were among the major Sensex gainers.
Only six of the 30 scrips that are part of the benchmark Sensex were trading in the red.
The index heavyweight Reliance Industries Limited was trading 0.40 per cent down at Rs 2619.95.
IndusInd Bank, Asian Paints, Bharti Airtel, HDFC and Hindustan Unilever were among the other Sensex losers.
Electronics manufacturing services company Syrma SGS Technologies on Friday made a strong debut on Dalal Street with the stock starting the trade at Rs 262 on the BSE, around 19 per cent higher than its issue price of Rs 220 per equity share.
On the National Stock Exchange (NSE) Syrma SGS Technologies made debut at Rs 260 per equity share.
On the BSE the stock started the trade at Rs 262 apiece and surged to a high of Rs 296.75 in the morning trade.
At 12.16 on the BSE, Syrma SGS Technologies share was trading at Rs 294.50, which is 33.86 per cent higher than its issue price of Rs 220 or 12.40 per cent higher than its open price of Rs 262. (ANI)