Sensex jumps 1,000 pts, Nifty above 16,900
The Sensex and Nifty advanced 5.4 per cent and 4.5 per cent in July
Indian benchmark indices jumped to near two-month highs on Thursday, lifted by gains in non-bank lender Bajaj Finance after its quarterly earnings beat expectations, and as the US Federal Reserve hiked rates on expected lines.
At 12:30 pm, BSE Sensex was up over 1,000 points and the Nifty50 was quoting above 16,900. The BSE m-cap was trading Rs 2.8 lakh crore higher at Rs 262.53 lakh crore from Tuesday's Rs 259.71 lakh crore mark.
Furthermore, in July, the benchmark indices Sensex and Nifty surged nearly 5 per cent each in July, their biggest gain in 11 months.
The Sensex and Nifty advanced 5.4 per cent and 4.5 per cent in July, their maximum gains since last August.
This was also the first time in four months that both indices turned positive.