Sensex surges 435 points; M&M, ICICI Bank, Bharti Airtel soar

Mumbai (Maharashtra) [India], September 8 (ANI): The Indian stock market’s benchmark Sensex surged by nearly one per cent on Thursday led by strong buying support in auto, banking and infra stocks amid positive cues from the global equities.
The 30 stock S&P BSE Sensex was trading 435.01 points or 0.74 per cent higher at 59,463.92 points at 1.51 pm against its previous day’s close at 59,028.91 points.
Earlier, the Sensex started the day sharply higher at 59,374.99 points and climbed to a high of 59,638.63 points in the morning trade.
The Sensex is trading higher after two consecutive sessions of fall. The index had lost 168.08 points or 0.28 per cent on Wednesday.
The broader Nifty 50 of the National Stock Exchange was trading 110.65 points or 0.63 per cent higher at 17,735.05 points.
The Nifty started the day sharply higher at 17,748.15 points and surged to a high of 17,792.20 points in the intra-day.
Mahindra & Mahindra hit new record high. The scrip was trading 2.68 per cent higher at Rs 1323.75. Tech Mahindra surged 2.69 per cent to Rs 1084.65.
There was good buying support in banking stocks. Axis Bank surged 2.51 per cent to Rs 774.50. ICICI Bank jumped 2.20 per cent to Rs 895.65. State Bank of India soared 2.06 per cent to Rs 543.60.
UltraTech Cement, Bharti Airtel, IndusInd Bank, Kotak Bank, Wipro and ITC were among the major Sensex gainers.
Only eight of the 30 scrips that are part of the benchmark Sensex were trading in the red. Tata Steel slumped 1.53 per cent to Rs 105.95. Titan, Nestle India, NTPC, Power Grid Corporation and Sun Pharma were among the major Sensex losers. (ANI)