Sensex, Nifty surge nearly 1 per cent on buying in IT stocks, firm global cues

Stock market benchmark indices Sensex and Nifty surged nearly 1 per cent on Wednesday, buoyed by a rally in IT, capital goods and industrial stocks amid a firm trend in global markets.

The 30-share BSE benchmark Sensex jumped 631.55 points or 0.83 per cent to settle at 76,532.96. During the day, it jumped 698.32 points or 0.92 per cent to 76,599.73.

The NSE Nifty soared 205.85 points or 0.90 per cent to 23,163.10.

From the 30-share blue-chip pack, Zomato jumped nearly 7 per cent. Tata Motors, Infosys, UltraTech Cement, Tech Mahindra, Mahindra & Mahindra and Bajaj Finance were the other major gainers.

In contrast, ITC Hotels, Bharti Airtel, Maruti, Asian Paints and ITC were among the laggards.

In Asian markets, Seoul and Tokyo settled in the positive territory. Markets in Shanghai and Hong Kong were closed due to holidays.

European markets were trading mostly in the green. US markets ended higher on Tuesday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,920.69 crore on Tuesday, according to exchange data.

Global oil benchmark Brent crude declined 0.93 per cent to USD 76.77 a barrel.

On Tuesday, the BSE benchmark Sensex climbed 535.24 points or 0.71 per cent to settle at 75,901.41. The Nifty went up by 128.10 points or 0.56 per cent to 22,957.25.