Domestic shares surged on Thursday after news agency Reuters reported citing an official that the government is likely to roll back its recently imposed higher tax on foreign portfolio investors (FPIs). The S&P BSE Sensex index rose as much as 570.07 points to touch 37,260.57 at the day’s strongest level, and the broader NSE Nifty benchmark climbed to 11,009.70, up 154.20 points from the previous close.
At 2:58 pm, the Sensex traded 515.83 points – or 1.41 per cent – higher at 37,206.33, while the Nifty was up 134.90 points – or 1.24 per cent – at 10,990.40.
Top percentage gainers on the 50-scrip index at the time were HCL Tech, Tata Motors, JSW Steel, Reliance Industries, Mahindra & Mahindra, Bharat Petroleum and Hero MotoCorp, trading between 2.65 per cent and 5.94 per cent higher.
Reliance Industries, HDFC Bank, Infosys and TCS were the top contributors to the gains in Sensex.