Sensex zooms over 390 points to hit one-week high

BSE Sensex soared over 390 points and the Nifty rose nearly 130 points in morning trade on Wednesday to hit their highest levels in almost a week on all-round buying mainly in banking, finance, IT and Tech sectors amid gains in global stocks.

The Sensex resumed higher at 25,432.10 and hovered in a range of 25,704.24 and 25,430.59 before quoting at 25,696.33 at 1145 hours, up by 390.86 points or 1.54% from its last close.

The NSE 50-share Nifty also rose by 129.40 points or 1.67% to quote at 7,878.25.

Major gainers were, ICICI Bank 3.63%, HDFC 2.92%, SBIN 2.24%, Larsen 2.18%, Maruti 2.18%, Axis Bank 2.03%, Tata Motors 1.99%, Bhel 1.79%, Asian Paint 1.77, TCS 1.74% and HDFC Bank 1.47%.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 815.53 crore on Tuesday, as per provisional data released by the stock exchanges.

In overseas stock markets, Asian equities edged higher after encouraging reports on the US housing market saw sharp gains in US stocks overnight.