Indian Equity markets on Thursday surged 1 percent, after tracking gains in global equity markets amid the prospects of further stimulus to fuel the recovery from the pandemic. A broad-based buying is seen in Sensex and Nifty 50 with banking and metal stocks outperforming.

 This was the fourth successive session when markets rose. Both Nifty and Sensex gained 4.8 percent in this period. At around 10 am, the benchmark Sensex rose 230 points 49963 while Nifty climbed  to 14944, up 80 points.

The domestic equities tracked positive global cues buoyed by corporate results of heavyweights and hopes for further US stimulus to fuel the recovery from the Covid pandemic.

The performance in markets continued to shrug off the onslaught of the pandemic in India with the country recording nearly 3.8 lakh new cases in the last 24 hours and a death toll of more than 3,000. 14 states and UTs have recorded their highest single-day count.

Shares of Tata Steel was the top gainers from the Nifty, while other gainers were Hindalco, IndusInd Bank, JSW Steel and Axis Bank. Among the losers in trade were HCL Tech, Eicher and Wipro.

Elsewhere, most of the Asian markets were trading higher with the Shanghai Composite, the Korean Kospi and the Hang Sang seeing gains.

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