Sensex soars 300 pts, Midcap gains 1.5% as North Korea fears subside

Crude Oil

Benchmark indices maintained strong gains in afternoon, tracking positive European peers after easing of geopolitical tensions surrounding around North Korea.

The 30-share BSE Sensex was up 301.59 points or 0.96 percent at 31,689.98 and the 50-share NSE Nifty gained 102.75 points or 1.05 percent at 9,898.80.

The broader markets gained 1.5 percent as about three shares advanced for every share falling on the BSE.

 Across the board buying in metal, oil & Gas, energy, realty, industrials, financials, auto, capital goods, consumer durables and banks helped indices to recover most of previous day’s losses.

Hectic short covering ahead of August derivative expiry on Thursday amid positive trend in Asian markets as North Korean concerns diminished supported the sentiment.

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