Sensex up 245 points, IT stocks surge

Mumbai, Aug 8 (IANS) The key Indian equity indices traded on a positive note on Thursday afternoon, with the BSE Sensex trading 245 point higher.

The boost in the market was largely on the back of healthy buying in IT and auto stocks along with a rise in global stock markets.

Further, investor sentiments also received a boost after the Reserve Bank of India's (RBI) Monetary Policy Committee on Wednesday cut the central bank's key lending rates by 35 basis points. This cut in rates is expected to boost demand and induce growth.

At 2.26 p.m., the Sensex was trading at 36,935.87, higher by 245.37 points or 0.67 per cent, over its previous close of 36,690.50 points.

The Sensex had opened on Thursday at 36,808.01 and touched an intra-day high of 36,959.81 and a low 36,655.41 points.

The Nifty50 on the National Stock Exchange was trading higher by 35.05 points, or 0.32 per cent, at 10,890.55 points.

--IANS

rrb/bc

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