Nifty aims 7,850; HDFC, Infosys, RIL surge 2-3%

The Indian equity markets are still soaring high, after a gap-up opening, mainly on the back of short-covering and strength witnessed in global peers. The broad based rally across the banking and auto shares lifted the sentiment.

Overnight, the Wall Street jumped euphorically post the released of US Federal Reserve’s meeting minutes that hinted at raising the interest rates in December as it feels confident about the health of the world’s largest economy. But the Fed also indicated that it would proceed with caution in further tightening of the monetary policy, which aided the enthusiasm across the financial world.

At 2:40 pm, the S&P BSE Sensex is trading at 25,762, up by 280 points while the Nifty50 is trading at 7,815, up by 84 points.

Globally, all the major Asian equities are trading in the green territory. Japan’s central bank has maintained its monetary position, citing confidence in the economy despite challenging conditions. Nikkei is up by 1%. Other Asian markets- Straits Times, Hang Seng, Shanghai Composite have all surged between 1.3-1.5% each.

The European equities also opened positively, shrugging off security concerns in France, as FTSE 100, CAC 40, DAX, have all climbed up by 1%.

National Stock Exchange of India Ltd (NSE)

HDFC Bank

Infosys Technologies Limited

Reliance Industries Limited (RIL)