Sensex Rallies Over 250 Points, Nifty Reclaims 8050 Level

The benchmark indices Sensex and Nifty wiped of the  two-day downtrend and recovered losses. In today's trade the indices were seen trading in a positive territory. The BSE Sensex was up by 250 points at 26882 and NSE Nifty was up by 80 points at 8055. The US Federal Reserve on Wednesday signaled that there is no hurry to raise interest rates, and pledged to keep the interest rates near zero. The overall market breadth was positve as there were 1723 advances and 159 declines. The BSE mid-cap and small-cap indices outperformed their counterparts. The BSE mid-cap index was up by 1.57% and small-cap index was up by 2.27%.

Tracking the momentum of sectoral indices, all the indices were seen trading in positive. The big gainers in the early morning trade were Sun pharma which rose by 2% after the company entered in an agreement with Merck. Hero Motocorp also gained 2% after the announcement that it will set up an ultra modern manufacturing facility. The other gainers in today's trade were BPCL and PNB which were up by 2.79% and 2.21% respectively. The major losers in today's trade included Infosys which was down by 1.44%, M&M was down by 0.42%.

Further a mixed trend was seen in the Asian markets, Japan's Nikkei was up by 1.24%, China's Shangai was up by 0.41%. However, Hong Kong's Hang Seng was down by 0.64%