Sensex jumps 788 pts; IT shares in demand

The key equity benchmarks traded with strong gains in morning trade, supported by easing crude oil prices after US President Donald Trump ruled out near-term strikes on Iran. The positive sentiment helped the Sensex and Nifty recover some of their losses from Thursday?s sharp selloff, which wiped out more than Rs 10 lakh crore in Dalal Street wealth. The Nifty traded above the 22,450 mark. IT shares declined after advancing in the past four trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 788.28 points or 1.10% to 72,381.52. The Nifty 50 index rose 257.30 points or 1.16% to 22,493.20.

In the broader market, the BSE 150 MidCap Index gained 1.03% and the BSE 250 SmallCap Index added 0.58%.

The market breadth was positive. On the BSE, 2,299 shares rose and 1,464 shares fell. A total of 244 shares were unchanged.

Buzzing Index:

The Nifty IT index jumped 3.33% to 28,660.35. The index tanked 2.02% in the past four trading sessions.

Tata Consultancy Services (up 4.32%), LTM (up 2.95%), Wipro (up 2.92%), Mphasis (up 2.77%) and Persistent Systems (up 2.54%), Infosys (up 2.31%), Coforge (up 2.18%), Tech Mahindra (up 1.76%), HCL Technologies (up 1.23%) and Oracle Financial Services Software (up 0.71%) rose.

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