Sensex up 700 points; metal, auto stocks surge

Snapping its two-day free fall the Indian stock market surged on Friday with the BSE Sensex gaining over 700 points during the afternoon trade.

Bargain buying along with a positive trend in the global markets supported the Indian indices. Healthy buying was witnessed across the board led by metal, auto, and financial stocks.

Around 1 p.m., Sensex was trading at 49,174.87, higher by 734.75 points or 1.52 per cent from its previous close of 48,440.12.

It opened at 48,969.25 and has so far touched an intra-day high of 49,202.77 and a low of 48,699.91 points.

The Nifty50 on the National Stock Exchange was trading at 14,554.30, higher by 229.40 points or 1.6 per cent from its previous close.

The top gainers on the Sensex were Tata Steel, Bajaj Finserv and Asian Paints, while only loser was Power Grid. - IANS