Markets surge to new highs, banking stocks soar

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SME Times News Bureau | 25 May, 2017
The Indian equity markets on Thursday soared to new high levels as positive global cues, a strong rupee and healthy buying in banking, capital goods and automobile stocks lifted investors' sentiments.

According to market observers, short-covering triggered on account of May futures and options (F&O) contracts expiry also led the key indices to provisionally close with gains of around 1.5 per cent each.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) reclaimed its psychologically important 9,500-mark, and closed at 9,509.75 points -- up 149.20 points or 1.59 per cent.

The 30-scrip Sensitive Index (Sensex) of the BSE surged by 446.41 points or 1.47 per cent to provisionally close at a new high of 30,750.03 points.

The Nifty touched a new intra-day high of 9,523.30 points and the Sensex that of 30,793.43 points.

Stocks of Larsen and Toubro (L&T), HDFC Bank, ICICI Bank, Infosys and Tata Consultancy Services were among the top gainers on the BSE.