Mumbai: Snapping its three-session losing streak, the benchmark BSE Sensex surged by 400 points on Thursday on fresh buying by foreign funds and investors amid positive global cues.
Expectation of a recovery in EBITDA margins of companies ahead of Q2FY15 earnings season and global cues saw the NIfty and the Sensex open in the green.
The Sensex zoomed 390 points or 1.49 per cent to end at 26,637 while the NSE Nifty jumped 118 points or 1.5 per cent to 7,960.
Rising rupee which strengthened to 60.90 against the dollar and easing global crude prices that have hit two-year low, also added to sentiments.
The 30-share barometer had lost over 383 points in the previous three sessions.
All sectoral indices were in the green led by capital goods, realty and banks with gains of up to 3 per cent. Volatility was down 6.78 per cent with the India Vix quoting at 13.15.
Top gainers on the Sensex 30 were BHEL (ƶ.3%), Hindalco (ƴ%), SBI (ư.84%), HDFC (2.68%) and ICICI Bank (ư.64%) were the top gainers.
Brokers said sentiments turned better, tracking rebound on other Asian markets in response to minutes from the US Federal Reserve indicating that policymakers are wary about raising interest rates sooner than later.