Mumbai March 12 (IANS) The BSE Sensex index surged over 500 points during the afternoon trade session on Monday while the Nifty50 of the National Stock Exchange (NSE) traded over 150 points higher.
According to market observers the sharp upward rally of the key indices came on the back of broad-based buying in sectors like FMCG auto IT banking metals and oil and gas.
Around 2.50 p.m. the barometer 30-scrip Sensitive Index (Sensex) traded at 33 839.35 points -- up 532.21 points or 1.60 per cent from the previous session s close.
However the BSE market breadth was bearish with 1 384 declines and 1 281 advances.
Index heavyweights like Bharti Airtel ITC NTPC Tata Motors and Hero MotoCorp were the top gainers on the BSE.
On the NSE the wider Nifty50 edged higher by 165.70 points or 1.62 per cent to trade at 10 392.55 points.
On Friday a sudden sell-off during the last hour of trade trimmed the day s entire gains and led the equity indices to close trade on a flat note with marginal losses.
The NSE Nifty50 fell by 15.80 points or 0.15 per cent to close at 10 226.85 points while the BSE Sensex closed at 33 307.14 points -- down 44.43 points or 0.13 per cent.
--IANS
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