Sensex up 220 points on recovery in global markets

Mumbai: The Sensex surged over 200 points during the afternoon trade session on Thursday, following a strong rebound in the US markets.

IT stocks gained 1.87 per cent while the oil and gas and energy stocks also edged higher on the BSE.

At 1.24 p.m., S&P BSE Sensex traded 221.26 points or 0.62 per cent higher at 35,871.20 after touching a high of 36,041.24 and a low of 35,797.26.

The Nifty traded 66.75 points or 0.62 per cent higher at 10,796.60.

In the past days, investor sentiments were low on concerns that US President Donald Trump would attempt to fire Federal Reserve Chairman Jerome Powell. Key economic adviser Kevin Hassett’s reassurances on Wednesday put this to rest.

According to reports, the US president was unhappy post the US central bank hiking the short-term interest rate.