Sensex rallies over 350 pts; Nifty tests 12K

Market benchmark BSE Sensex surged over 350 points to hit its record intra-day peak of 40,606.91 points on Wednesday is driven by strong buying sentiment in banking, metal and realty stocks. After starting on a choppy note, the 30-share index rallied to trade 332.85 points, or 0.83 percent, higher at 40,581.08 in the afternoon session.

Similarly, the broader NSE Nifty briefly reclaimed the 12,000 marks. At 1415 hours, it was trading 81.30 points, or 0.68 percent, to 11,998.50. Top gainers in the Sensex pack included Infosys, ICICI Bank, IndusInd Bank, Yes Bank, HDFC, Tata Motors, and L&T, rising up to 2.54 percent.

On the other hand, Bharti Airtel, HCL Tech, RIL, Maruti and SBI were among the top losers, shedding up to 3 percent. Globally, bourses in Hong Kong, Tokyo, and Seoul were trading on a positive note, while those in Shanghai slipped into the red.

Exchanges in Europe were also trading on a positive note in their respective early deals. On the currency front, the rupee appreciated 25 paise against the US dollar to trade at 70.94 in the early session. Brent futures, the global oil benchmark, fell 0.92 percent to USD 62.38 per barrel.