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Stock market rises, Sensex rises 651 points

Mumbai, May 5 (PTI) The Sensex climbed 651 points on Thursday on gains in major stocks such as Infosys, Tata Steel and State Bank of India, driven by significant gains in US markets. In the previous session, there was a big fall in the Sensex on Wednesday.

During this, the 30-share BSE Sensex rose 650.9 points to 56,319.93 points in early trade, while the NSE Nifty gained 185.65 points to 16,863.25.

Tech Mahindra, Tata Steel, Infosys, State Bank of India, Kotak Mahindra Bank and M&M were among the top gainers in the Sensex.

On the other hand, Nestle and Titan were in the red.

Domestic stock markets fell on Wednesday after the Reserve Bank of India (RBI) decided to increase the repo rate. The central bank decided to increase the repo rate by 0.40 percent to 4.40 percent mainly to control inflation.

In the last trading session, the 30-share BSE Sensex closed at 55,669.03 points, down 1,306.96, or 2.29 per cent. The Nifty of the National Stock Exchange also closed at 16,677.60, down 391.50 points, or 2.29 per cent.

Meanwhile, international oil benchmark Brent crude rose 0.48 per cent to $110.67 per barrel.

Foreign institutional investors sold shares worth Rs 3,288.18 crore on a net basis on Wednesday, according to provisional stock market data.

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