Sensex witnesses 318 point surge, Nifty at 10,242.70

New Delhi [India]: Market indices ended significantly higher on Thursday evening trade for the first time in the last seven consecutive sessions, backed by short covering in banking and financials.

Sensex traded up 318.48 points at 33,351.57, and Nifty gained 88.50 points at 10,242.70.

However, about three shares declined for every two shares rising on the Bombay Stock Exchange (BSE).

State Bank of India (SBI), ICICI Bank, Adani Ports, Mahindra and Mahindra Ltd., Reliance Industries Ltd. gained about two to four percent.

On the other hand, Sun Pharma, Tata Steel, YES Bank, GAIL, TCS were down about one percent.

The markets opened sharply higher as well in the morning today, tracking positive Asian cues.

Sensex was up 238.55 points at 33,271.64 and Nifty gained 71.60 points at 10,225.80, in the morning trade.

The Indian rupee, however, weakened marginally against the US dollar.

The rupee was trading at Rs. 65.03, from its previous close of Rs. 64.89, at about 2 pm.

The currency opened at Rs. 64.93 a dollar and touched a high and a low of Rs. 64.90 and Rs. 65.05 respectively, during the day. (ANI)