Sensex surges 604 point; IT, infra, banking stocks climb

Mumbai (Maharashtra) [India], July 18 (ANI): The Indian stock market's key indices, Sensex and Nifty, surged by more than 1 per cent on Monday led by strong buying support in IT, infra, banking and financial stocks.
The 30 stock S&P BSE Sensex was trading 604.53 points or 1.12 per cent higher at 54,365.31 points at 2.30 pm against its previous session's close at 53,760.78 points.
This is the second consecutive session of the rally in the Indian equities markets. The Sensex had gained 344.63 points or 0.65 per cent on Friday, the previous trading session.
The broader Nifty 50 of the National Stock Exchange was trading 191.20 points or 1.19 per cent higher at 16,240.40 points against its previous session's close at 16,049.20 points.
There was strong buying support in IT stocks. Infosys surged 3.76 per cent to Rs 1484.25. Tech Mahindra jumped 3.32 per cent to Rs 1006.60. Wipro jumped 2.44 per cent to Rs 403.45.
Tata Consultancy Services jumped 2.05 per cent to Rs 3055. HCL Technologies was trading 2.04 per cent higher at Rs 901.10.
IndusInd Bank jumped 3.96 per cent to Rs 847.45. Kotak Bank rose 3.04 per cent to Rs 1842. Bajaj Finserv, UltraTech Cement, L&T, Axis Bank, Tata Steel and State Bank of India were among the major Sensex gainers.
Only seven of the 30 scrips that are part of the benchmark Sensex were trading in the red. Dr Reddy's Laboratories slipped 1.56 per cent to Rs 4471.80. HDFC Bank, Hindustan Unilever, Nestle India, Maruti Suzuki and Mahindra & Mahindra were among the major Sensex losers. (ANI)