NEW DELHI: Benchmark indices jumped over half-a-per cent on Thursday morning as investors judged the recent slide as excessive.Banking stocks gained. At 9.20 am, the BSE Sensex was trading 218.49 points, or 0.66 per cent, higher at 33,251.58. The index climbed over 250 points in the early trade. The NSE Nifty50 rose 63.65 points, or 0.63 per cent, to 10,217.85.
The gains on the indices were seen after six days of consecutive fall. Among global cues, revised data showed that Japan’s economy expanded at an annualised rate of 1.6 per cent in the December quarter from a preliminary growth estimate of 0.5 per cent.
Going ahead, index is likely to trade sluggish and the real action would be seen in individual stocks. Thus, one needs to focus on such moves rather than scratching heads in the index,” said Sameet Chavan of Angel Broking. Shares of Bhushan SteelBSE 11.95 % climbed 19 per cent after Tata Steel got identified as the highest evaluated compliant bidder to acquire a controlling stake in debt-ridden company. Amtek Auto added 5 per cent after on reports Liberty House is set to acquire Amtek Auto, as the official appointed by the bankruptcy court to manage the auto component maker’s debt resolution process confirmed the UK metals group as the preferred bidder for the assets on Wednesday
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