Sensex rallies over 400 points in opening trade

Tata Consultancy Services (TCS) was the top gainer in the Sensex pack, surging over 4 per cent after the IT major announced a mega-Rs 16,000 crore buyback plan at Rs 3,000 per equity share.
Sensex rallies over 400 points in opening trade
STOCK MARKET

NEW DELHI

Equity benchmark Sensex rallied over 400 points in opening trade on Thursday led by strong buying sentiment in Information Technology (IT) and banking stocks amid positive cues from global markets and sustained foreign fund inflow.

The 30-share index was trading 452.15 points or 1.13 per cent higher at 40,331.10, and the NSE Nifty soared 117.50 points or 1 per cent to 11,856.35.

Tata Consultancy Services (TCS) was the top gainer in the Sensex pack, surging over 4 per cent after the IT major announced a mega-Rs 16,000 crore buyback plan at Rs 3,000 per equity share.

In the Sensex pack, the other stocks that were trading on a positive note include HCL Tech, Infosys, Tech Mahindra, Tata Steel, Bajaj Finserv, IndusInd Bank, Axis Bank and SBI.

On the other hand, ONGC, Asian Paints, Titan, ITC and PowerGrid were among the laggards.

Meanwhile, on the global front, bourses in Tokyo and Seoul were trading on a positive note in mid-session deals, while Hong Kong was in the red. Stock exchanges in Shanghai were closed for holidays.

Wall Street indices ended with significant gains in the overnight session.

International oil benchmark Brent crude was trading 0.17 per cent higher at USD 42.06 per barrel.

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