Sensex surges 457 points in late morning trade

The bse benchmark Sensex surged 456.75 points to 27,709.28 in late morning deals on value buying across the spectrum.
Higher Asian cues amid overnight gains in the US markets following Donald Trump's shock win of US presidency and value buying lifted the key indices.
The Sensex was trading at 27,709.28 at 1110 hours, showing a gain of 456.75 points, or 1.68 per cent, from previous close.
The 50-share Nifty was also rose by 153.90 points or 1.80 per cent to quote at 8,585.90.
Major gainers were SBIN 8.12, Tata Steel 8.03 per cent, CIPLA 5.73 per cent, ICICI Bank 5.15 per cent, Adani Ports 4.98 per cent and Axis Bank 4.04 per cent.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,095 crore yesterday, as per provisional data.
Overseas, Asian markets trading higher to join a global rebound on speculation that Donald Trump will pursue business-friendly policies. The US stocks rallied, led by a surge in financial, health-care and industrial stocks, as investors bet on the infrastructure spending policy promised by the President-elect Donald Trump.