Sensex Surges 1,100 Points; Nifty Tops 25,300

Sensex open: It gapped up about 1,094 points (1.35%) to 82,201 at the open, after a 1,142-point jump in the pre-open session. It was up 1,168 points (1.44%) at 82,274.50 by 9:23 AM. Nifty open: The Nifty50 was up 308 points (1.23%) at 25,352.60 by 9:23 AM. Break in trading: The previous close was Monday’s, as markets were shut Tuesday for Diwali-Balipratipada (Sensex 81,106.65, Nifty 25,044.65). Broad strength: All 30 Sensex stocks were in the green at the open, and the Nifty Midcap rose 0.68% and Smallcap 1.32%. Investor wealth rose about ₹4.9 trillion. Top gainers: INDIGO , Mahindra & Mahindra and SBI led the Nifty50, with Asian Paints, Bharti Airtel and Bajaj Finance also among the leaders. Top loser: There was no loser in the Sensex pack at the open, since every stock traded higher. The weakest names were the smallest gainers. Sectors: Nifty PSU Bank led with a gain of about 2%, with Punjab & Sind Bank, Indian Overseas Bank and UCO Bank at the top. Drivers: Falling oil prices and easing losses in global chip stocks improved the outlook for domestic IT shares.