Sensex up 300 pts, Nifty Bank above 20k; Tata Motors, Axis surge
Equity benchmarks hit fresh 18-month high with the Nifty moving closer to 8900.
The Sensex surged 294.66 points or 1.03 percent to 28826.77 and the Nifty was up 85.85 points or 0.97 percent at 8895.50.
Equity benchmarks extended rally in morning trade with the Nifty gradually inching towards 8900 on hopes of further delay in rate hike after weaker-than-expected US jobs data. Auto and banking & financials were key drivers.
Nifty Bank crossed the 20000 level for the first time since March 4, 2015. Tata Motors and Axis Bank topped the buying list on Sensex, up 3 percent each followed by HDFC Bank, Infosys, HDFC, ICICI Bank, L&T and Maruti.