Sensex surges 242 points, closes above 26,000-mark

Mumbai: The BSE benchmark Sensex reclaimed the psychological 26,000-level by rallying over 242 points in late morning deals on sustained bouts of buying in key frontline shares led by IT, teck, utilities, metal sectors amid higher Asian cues.

The first day of December derivative contracts started on a positive note on hectic build-up of bets by domestic funds and investors in response to continued offloading by foreign funds.

The 30-share pack resumed higher at 25,953.24 and hovered in a range of 26,101.94 and 25,874.45 before quoting 26,102.35 at 1100 hours, showing a gain of 242.18 points, or 0.94 per cent, from its last close. The NSE 50-share Nifty also trading higher by 88.80 points, or 1.11 per cent, to 8,054.30 at 1100 hours.

Major gainers were: Infosys 5.13 per cent, TCS 4.32 per cent, GAIL 3.64 per cent, Tata Steel 2.95 per cent, Wipro 2.88 per cent and Adani Ports 2.17 per cent. Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 2,010.15 crore yesterday, as per provisional data released by the stock exchanges.

In overseas markets, Asian markets gained as the Thanksgiving break in the United States pegged the dollar's relentless surge that had sucked capital out of most emerging markets. US markets remained closed yesterday on Thanksgiving holiday and trading will end early on November 25.