Sensex surges by 677 points; banking stocks gain

A benchmark index of Indian equities markets Thursday surged 676.91 points or 2.48 percent as banking stocks gained.

All the sectors were trading in the green. The rally was led by banking, auto, capital goods, oil and gas, metal, IT and consumer durables sectors.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 27,831.16 points, was trading at 28,023.73 points (at 12.51 p.m.), up 676.91 points or 2.48 percent from the previous day's close at 27,346.82 points.

The Sensex has touched a high of 28,039.43 points and a low of 27,703.70 points in the trade so far.

The S&P bankex surged by 706.86 points, auto index moved up by 402.66 points, capital goods index increased by 378.31 points, oil and gas index went up by 159.44 points, metal index inched up by 134.75 points, IT index got augmented by 126.87 points and consumer durables index scored by 111.51 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also surged by 199.65 points or 2.41 percent and was trading at 8,477.20 points.