Sensex zooms 611 pts; Nifty ends above 10400 on global rally

A trader reacts as he watches screens on the floor of the New York Stock Exchange in New York on Feb 5

A trader reacts as he watches screens on the floor of the New York Stock Exchange in New York on Feb 5

Sensex today: The benchmark indices started week on a positive note, with Nifty reclaiming its crucial 10,300 level, tracking a relief rally in Asian markets after the latest United States jobs report managed to impress with its strength while also easing fears of inflation and faster rate hikes, a neat feat that whetted risk appetites globally.

The 50-share NSE Nifty saw the biggest single day percentage gains for the first time in last 22 months, up 194.50 points or 1.90 percent at 10,421.40.

Indian shares jumped almost 2 percent on Monday, in line with a global rally after the latest report assuaged fears around inflation and faster rate hikes, while investors back home awaited inflation numbers due later in the day.

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Bharti Airtel, ITC Limited and the National Thermal Power Corporation were the top gainers in the two indices.

Brokers said fresh buying by investors ahead of inflation data to be released after market hours today improved the market sentiment. It touched a high of 10,433.65 points in day trade. The S&P 500 Index rose on Friday and the Nasdaq Composite Index soared to a fresh record high after U.S. non-farm payrolls data topped forecasts. Investors awaited February CPI inflation and January industrial output data due later today. Broader markets slightly underperformed with marginal losses of 0.3 per cent. Japan's benchmark Nikkei 225 is up 2.1 per cent, Hong Kong's Hang Seng too is up 1.5 per cent and Shanghai Composite is marginally up with gains of 0.3 per cent at 7.04 hours IST.

All the sector indices that the BSE compiles ended higher, led by the S&P BSE Telecom index, which gained 2.57%. The Nifty Midcap index was up 1 percent despite balanced market breadth.

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