Sensex soars 370 pts, Nifty near 19,500 mark; metal stocks rally, HCLTech loses

Domestic equities soared higher on Thursday after US June inflation showed a slowdown. BSE benchmark Sensex jumped 238.29 points, or 0.36 per cent at open to 65,632.19, while broader NSE Nifty50 gained 80 points, or 0.41 per cent to 19,464.30.

By 9.30 am, Sensex soared 369.49 points, or 0.57 per cent to trade at 65,763.39, while Nifty50 gained 108.95 points, or 0.56 per cent to 19,493.25.

Bajaj Auto, HDFC Life, Hindalco, Hero MotoCorp, Tata Steel, HDFC Bank, TCS, Cipla, SBI, M&M, and Britannia were the top gainers in the opening trade.

On the other hand, HCLTech, PowerGrid, Asian Paints, Nestle India, Bharti Airtel, Grasim, Sun Pharma, and UPL were the top losers.

HCLTech fell over 1.50 per cent after the IT giant’s Q1 missed estimates and rose 8 per cent to Rs 3,534 crore.

Meanwhile, TCS was one of the top gainers in the Sensex heatmap as India’s biggest IT company said its net profit jumped 17 per cent to Rs 11,074 crore.

Broader markets extended key indices’ rally as Nifty Smallcap 250 gained 0.60 per cent, Nifty Smallcap 50 jumped 0.59 per cent, Nifty Smallcap 100 climbed 0.56 per cent, and Nifty Microcap 250 rose 0.69 per cent.

Except for Nifty Consumer Durables, all sectors were trading in green, as Nifty Metal jumped 1.22 per cent, Nifty IT gained 0.68 per cent, PSU bank index climbed 0.61 per cent, and Nifty Financial Services soared 0.59 per cent.