Sensex surges 1,200 points, Nifty reclaims 22,900; Nifty PSU Bank falls 1%

The Nifty50 and the Sensex rose as IT and bank shares advanced.

As of 12:00 PM, the Sensex surged 1,200 points or 1.69 per cent to 74,011.21 and the Nifty50 was up 351.25 points or 1.55 per cent at 22,973.95.

Tech Mahindra, Tata Consumer Products, and Tata Consultancy Services (TCS) were the top gainers in the Nifty50.

In the broader markets, the Nifty MidCap rose 0.27 per cent and the Nifty SmallCap fell 0.66 per cent.

Sector-wise, the Nifty IT rose the most, while the Nifty PSU Bank declined the most.