Markets have opened strong on the back of positive global cues. The European Union on Thursday agreed to raise the euro-zone bailout fund to about Euro 1 trillion. The European markets rocketed after the news started pouring in on Thursday. The US Markets had also moved up by over 2% following the news.
The Sensex surged more than 600 points in the opening trade on global rally. The Sensex is currently at 17,763, up 474 points and the Nifty has advanced 141 points at 5,343
High beta stocks have all gained significantly. Metals have shot up in the trade. Hindalco has moved up 10.5%. Tata Steel, Sterlite, JSPL and Tata Motors gained 6-8%.
ONGC, Infosys, ICICI Bank, L&T, TCS, Axis Bank, SBI, SAIL, Dr Reddy’s Labs, DLF and JP Associates were also trading strongly in the green, with gains between 3% and 5%.
Apollo Tyres and Exide have moved up 4% each on the counters.
IRB Infra, Lanco Infra, NHPC, Jain Irrigation and Hindustan Zinc have also seen a sharp jump of 2.5-3.5%.