Sensex gains above 300 points, markets soar ahead of inflation numbers

Bombay Stock Exchange building

Indian shares got on to the front foot on Wednesday with the BSE benchmark index - Sensex - jumping more than 150 points to reclaim the 32,000 mark.

The BSE market breadth was bullish - 1,694 advances and 980 declines.

The Nifty50 closed lower by 32.15 points, or 0.32 per cent, at 9,984.80 points, while the Sensex closed at 31,833.99 points - down 90.42 points, or 0.28 per cent. In the pre-opening session on Thursday, Sensex was up over 100 points while Nifty was above 9950.

Paring the previous day's losses, the equity indices surged during the last hour of trade. The MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.5 per cent to 546.38, a level not seen since December 2007.

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Tata Consultancy Services topped the value chart on the BSE with a turnover of Rs. 156.15 million. Back home, earnings season for September quarter kicks off today. "Market heavyweights TCS and Reliance Industries are slated to post results later this week", said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.

In terms of investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrips worth Rs 107.95 crore while domestic institutional investors (DIIs) purchased stocks worth Rs 233.80 crore.

Meanwhile, the Dow Jones Industrial Average rose 29.97 points, or 0.13 per cent, to 22,860.65, the S&P 500 gained 3.11 points, or 0.12 percent, to 2,553.75 and the Nasdaq Composite added 13.77 points, or 0.21 per cent, to 6,601.03.

The INDIA VIX is down 2.2% at 11.42.