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Sensex extends gains for 2nd day, surges 500 points in early trade; SpiceJet zooms 8%

The BSE Sensex was trading 496 points or 0.86 per cent higher at 58,562 while the NSE Nifty was at 17,408, up 133 points or 0.77 per cent, in early trade. The gains added to the over 2 per cent rally on Tuesday. Indian markets were closed on account of Dussehra on Wednesday.

ET Now Digital

Updated Oct 6, 2022, 09:54 IST

Sensex extends gains for 2nd day, surges 500 points in early trade; SpiceJet zooms 8

New Delhi: Domestic benchmark indices opened higher on Thursday, extending their gains for the second day in line with a rise in global peers. The gains in indices were led by Reliance Industries, IT and banking stocks.

The BSE Sensex was trading 496 points or 0.86 per cent higher at 58,562 while the NSE Nifty was at 17,408, up 133 points or 0.77 per cent, in early trade. The gains added to the over 2 per cent rally on Tuesday when Sensex closed 1,277 up. Indian markets were closed on account of Dussehra on Wednesday.

L&T, Infosys, Sun Pharma, Tata Steel contributed to the gains in benchmark indices while Bajaj Finance, HDFC Twins, HUL were the top drags. On the stock-specific front, shares of SpiceJet advanced nearly 8 per cent after the Centre modified Emergency Credit Line Guarantee Scheme (ECLGS) to enhance the maximum loan amount eligibility for airlines under ECLGS 3.0 scheme.

DLF shares rose over 3 per cent after the realty major sold all luxury homes in the new Gurugram project within 8 days of launch. Zee Entertainment jumped 3 per cent after the Competition Commission of India gave its nod to its merger with Sony.

All sectors were in the positive zone with Nifty Media, Nifty Realty, Nifty IT, and Nifty Metal indices rising the most, in the range of 1 per cent to 2 per cent. Broader markets, too, traded on a firm note.

In global markets, Asian shares were cautiously higher on Thursday, while the dollar eased ahead of US non-farm payrolls data. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent in early Asia trade, as US futures gained.

Japan's Nikkei stock index climbed 0.7 per cent to its highest level since September, South Korea advanced 1.2 per cent and Australia edged 0.1 per cent higher.

S&P 500 futures advanced 0.6 per cent, and the Nasdaq futures gained 0.9 per cent, building on a late rebound in US stocks which helped limit earlier losses.

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