Sensex surges 260 points; Nifty above 10,100-level

Mumbai: The benchmark BSE Sensex rallied over 260 points to mark fresh high of 32,642.91 in late morning session following buying spree in financials, banks, realty, auto, IT, FMCG and oil and gas stocks.

The broader nifty registered new milestone by trading above 10,100-level. Hectic shortcovering in view of July expiry day amid dovish stance by the US Federal Reserve and optimism over slew of corporate earnings later in the day spurred the buying momentum.

The Sensex resumed higher at 32,519.44 and moved between 32,646.21 and 32,492.01 in morning trade. It was trading at 32,642.91, showing a gain of 260.45 or 0.80 per cent at 1105 hrs.

The broader Nifty was trading up by 81.15 points or 0.81 per cent at 10,101.80. Major gainers were, HDFC 3.91 pct, HDFC Bank 1.34 pct, Maruti 1.28 pct, ICICI Bank 1.18 pct, HUL 1.17 pct and SBIN 1.10 pct.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 60.60 crore yesterday, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 676.61 crore.

Overseas, Asian markets were trading higher following the Federal Reserve's decision to leave interest rates unchanged and as a slew of corporate earnings began coming through.

US equities closed higher yesterday, on the back of strong earnings and following the Federal Reserve's decision to keep interest rates unchanged.