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Sensex Surges 300 Points Amid Global Rally, Nifty Near 8200

Indian markets surged over 1 per cent today tracking a rally in global markets after upbeat US employment data and a halt in a slide in oil prices helped to ease fears about global growth.
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Sensex Surges 300 Points Amid Global Rally, Nifty Near 8200

Indian markets surged over 1 per cent today tracking a rally in global markets after upbeat US employment data and a halt in a slide in oil prices helped to ease fears about global growth.

Hopes that the European Central Bank will embark upon bolder stimulus after data showing the euro zone had slipped into deflation also helped to shore up investor sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.2 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 banking, capital goods, and auto stocks leading the gains.

Among top Nifty gainers, BPCL rose 4.6 per cent while Asian Paints, Cairn India, Kotak Mahindra Bank and HDFC Bank rose between 2.5 per cent and 3 per cent.

Coal India rose 1.8 per cent after workers called off their strike yesterday.

At 11:48 am, Sensex was up 276 points to 27,184 while Nifty was near 8200 levels, up 91 points. (With Agency Inputs)
 



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