Stock markets start new fiscal on a high, Sensex reclaims 50,000-level

Indian equities started the new fiscal year on a strong note on Thursday, with Sensex surging over 520 points to settle above the 50,000-level on across-the-board buying by participants amid positive global cues.

At the closing bell, the BSE index quoted 520.68 points or 1.05 per cent higher at 50,029.83, driven by gains in banking, information technology and energy stocks. Of the Sensex stocks, 25 closed in the green.

Similarly, Nifty rose 176.65 points or 1.2 per cent to settle at 14,867.35.

IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, Sun Pharma, Bajaj Finance, and UltraTech Cement were prominent gainers. State-run State Bank of