Sensex up by 464 points, Nifty sails above 8,400 mark

Mumbai: Benchmark Sensex on Sunday scaled height of over 464 points to an almost 9-month high of 27,591 and the NSE Nifty retook the 8,400-mark in early session, primarily driven by a flurry of buying activity, reflecting firm Asian cues.

Mood took on shine in Asia with Tokyo’s Nikkei leading the charge, after Japanese Prime Minister Shinzo Abe’s ruling party’s victory in parliamentary elections boosted hopes for a fresh stimulus and weekend gains in the US following solid job creation in June, dealers said.

The 30-share index shot up 464.09 points, or 1.71 per cent, to 27,590.99 points — a level last seen on October 26 last year.

All sectoral indices led by capital goods, banking, metal and realty were pumped up, gaining by up to 1.78 per cent.

The gauge shed 74.59 points in the previous session on Friday.

NSE Nifty was not behind, trading up 127.30 points, or 1.53 per cent, at 8,450.30.

Japan’s Nikkei surged 3.55 per cent while Hong Kong’s Hang Seng was up by 1.78 per cent in early trade today.

The Shanghai Composite was 0.71 per cent higher in initial hours.

The US Dow Jones Industrial Average ended 1.40 per cent higher on Friday.