Sensex up over 250 points, Nifty above 12,200; SBI, Axis Bank gain

The 30-share BSE index was trading 261.65 points or 0.64 per cent higher at 41,428.97, and the broader NSE Nifty jumped 77.65 points or 0.64 per cent to 12,204.20.

Benchmark equity indices are trading on a high note tracking gains in heavyweights such as SBI, Axis Bank and Bharti Airtel amid positive global cues. The 30-share BSE index was trading 261.65 points or 0.64 per cent higher at 41,428.97, and the broader NSE Nifty jumped 77.65 points or 0.64 per cent to 12,204.20. While SBI led the list of gainers, the others in the top performers include PowerGrid, Axis Bank, Bharti Airtel, Reliance Industries (RIL), Maruti and HDFC twins. Among the laggards were TCS, Tata Steel and HCL. In the last session, the 30-share gauge ended 297.50 points, or 0.72 per cent, lower at 4 The currency gained in the early trade tracking appreciation in the domestic equity market, even as crude oil prices firmed up.1,163.76. Similarly, the Nifty closed 88 points, or 0.72 per cent, down at 12,126.55. The experts are of the view that the markets are expecting cues from the budget. The markets gained after three day of losses on account of various factors.

The shares on Wall Street too ended on a positive note on Thursday. The brent futures, the global oil benchmark, rose 0.16 per cent to USD 68.03 per barrel. The rupee gained 5 paise to 71.25 against the US dollar in early trade. The currency gained in the early trade tracking appreciation in the domestic equity market, even as crude oil prices firmed up, the experts said. The rupee on Thursday had closed at 71.31 against the dollar. In the early trade today, the 10-year government bond yield was at 6.51.

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Meanwhile, equities worth Rs 504.13 crore were sold by foreign institutional investors sold on Thursday, while domestic institutional investors bought shares worth Rs 120.46 crore, the exchange data showed.