Sensex gains 400 points; metal, banking, oil & gas stocks surge

The key Indian equity indices continued its rally on Thursday with the BSE Sensex rising over 400 points.

Metal, oil and gas and banking stocks led the across-the- board surge.

Around 10.30 a.m., Sensex was trading at 46,867.57, higher by 423.39 points or 0.91 per cent from its previous close of 46,444.18.

It had opened at 46,743.49 and has so far touched an intra-day high of 46,912.22 and a low of 46,615.39 points.

The Nifty50 on the National Stock Exchange (NSE) was trading at 13,725.85, higher by 124.75 points or 0.92 per cent from its previous close.

Manish Hathiramani, technical analyst with Deen Dayal Investments said: “The Nifty has nudged the 13,700 level upon opening. Since it is a truncated week, we would need to evaluate the Nifty on Monday. If we are able to keep above the 13,700 level, we could go up to 13,850 and then 14,000.”

“A strong support for the market has now been created at 13,100. As long as that holds, we are in bullish terrain,” he said.