Sensex extends rally, surges nearly 500 pts on strong global cues

Sensex extends rally, surges nearly 500 pts on strong global cues

The BSE benchmark Sensex today posted its biggest intra-day gain in nearly 12 months by surging over 470 points to 33,790.19 tracking a relief rally in global markets after better-than-expected US jobs report.

FMCG, IT, Teck, oil & gas, metal, capital goods, bankex and auto counters saw heavy buying activity ahead of key IIP and inflation numbers, to be released after market hours today.

Bharti Airtel, ITC, Tata Motors, Infosys, NTPC were among the top gainers, rising up to 3.59 per cent.

Firm trend in other Asian markets and higher opening in European bourses, following a good show by Wall Street on Friday, lifted investors' mood in domestic markets.

After opening on a strong footing, the Sensex extended its gains to hit a high of 33,790.19 on the back of fresh buying by domestic funds and retail investors. The index was trading 469.87 higher at 33,777.01 at 1430 hrs..

The broader Nifty touched an intra-day high of 10,365.40 points.

Brokers said fresh buying by investors ahead of inflation data improved the market sentiment.

The government will announce inflation data based on consumer price index (CPI) and industrial production data after market hours today.