Bulls continue rampage, Sensex gains 480 pts; L&T, Asian Paints lead

Bulls retained control over Dalal Street as equity benchmarks continued to rally more than 1.6 percent in afternoon trade on hopes of continuity in policies after BJP’s landslide win in Uttar Pradesh.

The 30-share BSE Sensex was up 483.13 points or 1.67 percent at 29429.36 and the 50-share NSE Nifty gained 148.20 points or 1.66 percent at 9082.75. 

The gap between advances and declines narrowed in afternoon as about 1709 shares advanced against 1008 declining shares. Advance:decline ratio was 5:1 in morning on the BSE.

ICICI Bank was the biggest gainer among Sensex and Nifty stock, up 6 percent followed by L&T, Asian Paints, HDFC, Adani Ports and UltraTech Cement. However, Coal India tanked 6 percent as stock goes ex-dividend.

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