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Sensex races towards 28000, up 250 pts; Vedanta, Hind Zinc rally

Equity benchmarks remained strong in morning trade with the Sensex inching towards 28000 level, aided banks and infra stocks. The market rebounded after five-day consolidation.

The 30-share BSE Sensex was up 248.13 points or 0.90 percent at 27962.50 and the 50-share NSE Nifty rose 75.15 points or 0.88 percent to 8626.25.

The broader markets also traded in line with benchmarks on positive breadth.The BSE Midcap and Smallcap indices gained nearly a percent as about 1421 shares advanced against 446 declining shares on the BSE.

Banks stocks were the leading gainers with Nifty Bank index gaining over a percent while Infosys was the only loser among Sensex 30 stocks.

Hindustan Zinc and Vedanta rallied 4 percent each after sources told CNBC-TV18 that Vedanta has stepped up efforts to buy out government’s stake in Hindustan Zinc and is likely to increase offer. The company may have appointed advisors to help in revising prices and is awaiting nod from Vedanta Plc before revising offer. It holds 64.92 percent stake and government 29.54 percent in Hindustan Zinc.

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Sensex races towards 28000, up 250 pts; Vedanta, Hind Zinc rally


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