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Sensex Surges Over 300 Points Amid Global Rally

Indian markets surged today tracking a rally in global markets after upbeat US employment data and a halt to a slide in oil tempered investor risk aversion.
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Sensex Surges Over 300 Points Amid Global Rally

Indian markets surged today tracking a rally in global markets after upbeat US employment data and a halt to a slide in oil tempered investor risk aversion.

Hopes that the European Central Bank will embark upon bolder stimulus after data showing the euro zone had slipped into deflation also shored up risk assets.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 1 per cent.

Wall Street rebounded on Wednesday from five straight sessions of losses after strong US private sector jobs data underscored strength in the world's largest economy and fanned hopes for a strong reading of the all-important non-farm payrolls due on Friday.

The gains in Indian markets were broad-based with strong buying seen in banking, capital goods, metal and IT stocks leading the gains.

Among top Nifty gainers, Cairn India, PNB, ICICI Bank and Tata Motors rose nearly 2 per cent.

Coal India rose over 2 per cent after workers called off their strike yesterday.



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