Sensex Soars 352 Points; Nifty Ends Above 10,150
(RTTNews.com) - Indian shares rose sharply on Thursday as firm global cues and a steep fall in oil prices overnight spurred investors to go bargain hunting after last week's heavy losses.
The benchmark BSE Sensex jumped 352.03 points or 1.08 percent to finish at 32,949.21 while the broader Nifty index ended at 10,166.70, up 122.60 points or 1.22 percent from its previous close.
GAIL soared 8.6 percent on expectations of possible inclusion of natural gas and LNG under GST. Mahanagar Gas rallied 3.8 percent, Indraprastha Gas advanced 2.7 percent and Petronet LNG added 4.8 percent.
Bharti Airtel jumped 7 percent after it tied up with Intex to offer a low cost bundled 4G smartphone at an 'effective price' of Rs 1,649. Idea Cellular rose over 5 percent and Reliance Communications gained 3.3 percent.
Aurobindo Pharma, Bajaj Auto, Tata Steel, Infratel, Maruti Suzuki, Asian Paints, UPL and Tech Mahindra climbed 3-5 percent.
Globally, Asian stocks recovered from early falls to finish on a steady note as the dollar inched up against the yen and oil eked out small gains after falling as much as 3 percent overnight on data showing a larger-than-expected increase in U.S. gasoline stocks.
European markets were modestly higher in early trade as investors digested merger and acquisition news and awaited further details on progress towards U.S. tax reform.
The dollar advanced against its peers, bolstered by reports that the U.S. Congress is on track to approve legislation that would avert a partial government shutdown over the weekend.
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