The BSE Sensex surged nearly 790 points on Thursday, propelled by strong buying in telecom and banking stocks. The 30-share index climbed 789.74 points, or 1.06%, to close at 75,398.72.
Market Performance
The benchmark index opened on a positive note but slipped into negative territory during late morning deals. However, a sharp recovery in the latter half of the session helped the Sensex close with substantial gains.
Sectoral Trends
- Telecom stocks witnessed robust buying interest, contributing significantly to the rally.
- Banking shares also remained in focus, with major lenders posting strong gains.
- Other sectors such as IT and FMCG also traded positively, supporting the overall market momentum.
Broader Market
The broader Nifty 50 index also ended higher, mirroring the Sensex's performance. Market breadth was positive, with more advances than declines on the BSE.
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Key Drivers
- Optimism about earnings growth in the telecom sector.
- Renewed interest in banking stocks following positive economic data.
- Stable global cues provided additional support to domestic equities.
Investors are now looking ahead to upcoming corporate earnings and macroeconomic indicators for further direction.
