BUSINESS
Bank stocks, including ICICI Bank and HDFC Bank, were winners, while State Bank of India got a boost after raising its lending and retail term deposit rates.
The benchmark S&P BSE Sensex surged 601 points on Thursday on all-round buying as the rupee jumped against the dollar after the US Federal Reserve unexpectedly refrained from reducing its stimulus programme.
Bank stocks, including ICICI Bank and HDFC Bank, were winners, while State Bank of India got a boost after raising its lending and retail term deposit rates.
The 30-share index opened higher at 20,354.73 from the previous close of 19,962.16 and climbed to as much as 20,580.57. The Sensex was at 20,562.99 at 1304 hours, up 600.83 points or 3.01 % from on Wednesday.
The NSE 50-share barometer Nifty rose by 193.85 points, or 3.29 %, to 6,093.30.
In a surprise decision, the US Federal Reserve yesterday said it will continue its monthly USD 85 billion bond-buying programme as it waits for more evidence of growth recovery.
Expectations of a tapering in the stimulus programme had led to fears of capital outflows, causing the rupee to depreciate and stocks to fall.
The major gainers included SBI (8.02 pc), ICICI Bank (6.84 pc), Tata Steel (6.08 pc), Maruti Suzuki 5.8 pc) and ONGC (5.63 pc).
The rupee surged past the 62 level against the dollar and was quoted at 61.96 per dollar at 1050 hours, compared with Wednesday's close of 63.38.
Foreign institutional investors bought shares worth a net Rs 580.13 crores on Wednesday, according to provisional data from the stock exchanges.
Asian stocks were higher in early trade, with benchmark indices in Hong Kong, Indonesia, Japan and Singapore rising by 1.54 to 4.5 %.
The stock markets in mainland China, Taiwan and South Korea were closed for a holiday.
DNA TV Show: Why did BJP pick Rekha Gupta as the next Delhi Chief Minister?
Groom’s rejection of Rs 5 lakh dowry wins in-laws' praise: ‘If educated people don't...'
Tina Ambani redefines beauty in pastel pink lehenga at Aadar Jain-Alekha Advani's mehendi ceremony
‘It started happening to...’: Akshaye Khanna opens up about premature balding in 20s
'Me watching...': Tanmay Bhatt posts sarcastic video amid Ranveer Allahbadia controversy
Who is Rekha Gupta, the new Chief Minister of Delhi?
Rekha Gupta named Delhi Chief Minister, set to succeed Atishi
Amid affair rumours with Abhishek Bachchan, Nimrat Kaur says 'words fail me...'
NHAI clarifies on new FASTag rules, says customers can recharge...
Meet man, who topped IIT-JEE Advanced 2018 with AIR 1, now lives abroad, works at…
Man sues PVR, INOX for wasting time with 25-min ads, wins Rs...
Red Coral and Yellow Sapphire: A Powerful Combination or Not?
Ahead of annual salary hike, Narayana Murthy's Infosys offers lower...
Parthiv Patel's self deprecating humour wins hearts, he was asked about Virat Kohli, Rohit Sharma
Ramadan 2025 date: When will crescent moon sighting take place in India and Saudi Arabia?
Mamaearth co-founder Ghazal Alagh says every successful brand has one thing in common, it is...
Neo Ayurveda Resolves 20-Year Migraines and Normalizes TSH in Just 30 Days
After backlash, Netflix cuts Urvashi Rautela's role from Daaku Maharaaj? Here's what we know
Mukesh Ambani's popular brand enters quick e-commerce delivery in UAE, teams up with...
On the Epic 8th Anniversary, Lystloc Launches Advanced LystCRM Solution & Face Rec API
Meta CEO Mark Zuckerberg gets richer by Rs 118 crore after selling...; his net worth reaches Rs...
Nagaland Lottery Result February 19: Dear Cupid Wednesday lucky draw, check full list
Pak vs NZ, Champions Trophy 2025: Disaster for Pakistan? Fakhar Zaman is off the field in first over
Who was Milind Rege? Former Mumbai stalwart and selector who passed away at 76
Food vlogger, Chatori Rajani's 17-year-old son Taran Jain dies in road accident
Pak vs NZ Dream11 predictions: Check best picks for ICC Champions Trophy 2025's opening match
Varun Dhawan suffers injury, shares photo of deep cut on his finger: 'This one gets...'
Meet man, who joined NVIDIA in 1997, helped it become USD 3 trillion company amid US-China AI war
Asap Rocky found not guilty of shooting at former friend, Rihanna reacts: 'The glory belongs to...'
LIC Smart Pension Plan: Invest Rs 1 lakh and get Rs... every month on maturity, here's how
Influencer recreates Katrina Kaif's dialogue from Tees Maar Khan and it's absolutely on point
Future of Pilot Ejection: Martin-Baker's advanced technology comes to India
Meet Infosys co-founder Narayana Murthy, Sudha Murty's granddaughters, their famous parents are...
FWICE urges Maharashtra government to make Vicky Kaushal, Rashmika Mandanna's Chhaava tax-free
Priyanka Chopra gives major Rangeela vibes as she channels her 'inner Urmila Matondkar'
Jamie Lever mimicking Govinda's wife Sunita Ahuja will start your day with laughter
Watch: Priyanka Chopra lands in Mumbai days after brother’s wedding, helps a person on streets by…
'They have a lot more money': Trump questions USD 21 million fund for voter turnout in India
Bank Holiday Today: Banks to remain closed on February 19 in THIS state due to...