MUMBAI: The benchmark index BSE Sensex rallied over 300 points in the early trade on Thursday on massive buying by investors largely in tandem with a firm global trend.

2.20 pm: State-owned Indian Oil Corporation (IOC) has reduced Petrol prices by 32 paise per litre, while it has increased diesel prices by 28 paise per litre with effect from the midnight of February 17/ February 18, 2016. The price of petrol in Delhi has become Rs 59.63 a litre, while diesel has become Rs 44.96 a litre. The current level of international product prices of petrol & diesel and INR-U.S.$ exchange rate warrant a decrease in the price of petrol and increase in the price of diesel. Shares of IOC were trading 1.27 percent up at Rs 387.95. Sensex was up 108 points at 23,490.

1.53 pm: Maximaa Systems shares were trading 1.62 percent up at Rs 5.65. Proyurveda Lifescience (PLPL), a subsidiary of Maximaa Systems (MSL) has become the world’s first ever company to bring Proyurveda, superlative health products made with a combination of Probiotics and Ayurveda through a passionate ecommerce portal. Also, this marks the company’s foray into the huge market of OTC healthcare products. Sensex was up 155 points at 23,537. Nifty was trading 46.25 points up at 7,155.

1.29 pm: Shares of oil exploration & production companies such as Cairn India, Oil & Natural Gas Corporation (ONGC) and Oil India were trading higher on the bourses after a sharp surge in global crude oil prices. ONGC, Cairn India and Oil India shares were trading 4.40 percent, 3.78 percent and 2.34 percent up at Rs 208.65, Rs 130.55 and Rs 323.95.

1.11 pm: Market sentiments remained upbeat after Moody’s Investors Service said Indian economy will grow at 7.5 percent in 2016 and 2017 as it is relatively less exposed to external headwinds, like China slowdown, and will benefit from lower commodity prices. The buying activity mainly picked up momentum mostly in step with a firming trend in other Asian markets. Asian markets were rallying at this point of time as crude oil extended gains on hopes that big producers will cap output, improving investor sentiment for riskier assets. Sensex was up 203 at 23,585.

12.36 pm: MTNL shares were trading 1.21 percent up at Rs 16.70. MTNL, the state owned telecom firm which operates in Delhi and Mumbai, has added 9,285 mobile subscribers in January, 2016. Following the addition, the company’s total subscriber count stood at 35.36 lakh with a market share of 0.46 percent. Sensex was up 222 points at 23,604. Nifty was up 52.70 points at 7,161.

12.25 pm: Sensex was up 165 points at 23,547.

11.59 am: Railway sector-linked stocks rise after media reports that Cabinet Committee on Economic Affairs approved construction of six railway lines and a railway bridge. Shares in BEML, Kalindee Rail, Alstom , Siemens, Sanghvi Movers, Titagarh Wagons, Texmaco Rail & Engineering rise as much as 4 percent.

11.51 am: Sensex was up 191 points at 23,573. Nifty was up 55.45 points at 7,163.90.

11.15 am: Dr Reddy’s Laboratories surged as much as 6.44 percent to Rs 3,151.85, posts biggest intraday percentage gain in nearly 4 months. The drug maker’s board on Wednesday approved share buyback for up to Rs 1,569 crore.

11.10 am: Sectorwise, the BSE Capital Goods index was trading 2.94 percent up, followed by BSE Healthcare index (up 2.47 percent), BSE Oil & Gas index (up 1.92 percent) and BSE Bankex (up 1.47 percent).

10.56 am: Punjab National Bank (PNB) is planning to sell up to Rs 3,000 crore bad loans to asset reconstruction companies (ARCs) in the fourth quarter as part of its balance sheet clean-up exercise. The bank is also looking at one-time settlement proposals and other measures to reduce bad loans. Shares of PNB were trading 1.72 percent up at Rs 73.85. Sensex was up 304 points at 23,686.

10.30 am: Sensex was up 271 points at 23,653. Roto Pumps shares were trading 18 percent higher at Rs 52. Nifty was up 76.30 points at 7,184.75

10.07 am: Meanwhile, Quick Heal Technologies shares made a weak debut on bourses on Thursday as the shares of the software provider listed at Rs 304.95 on BSE and at Rs 305 on NSE against the issue price of Rs 321. However, the scrip was trading 1.6 percent higher at Rs 326.25 on NSE against the issue price.

9.47 am: The rupee recovered from a 30-month low by rising 13 paise to 68.34 against the dollar at the

Interbank Foreign Exchange in early trade today on fresh selling of the U.S. currency by banks and exporters. Sensex was up 337 points at 23,719. Nifty was up 98.35 points at 7,206.

9.40 am: Brokers said buying activity picked up momentum mostly in step with a firming trend at other Asian bourses and overnight gains in the U.S. and European markets on the back of strength in crude oil which boosted sentiment.

9.33 am: Surya Roshni has received orders worth Rs 55.19 crore for supply of 9W LED bulbs and LED street lights and other related works for various states from Energy Efficiency Services, a joint venture company of PSUs of the Ministry of Power, Government of India. Shares of Surya Roshni were trading 4.20 percent up at Rs 134.10.

9.28 am: Tamilnadu Petroproducts shares were trading nearly 10 percent up at Rs 23.40 in the early trade. Sensex was up 282 points at 23,664.

9.24 am: Nifty crossed the psychological landmark of 7,200. The index was trading trading 92.85 points, or 1.31 percent, up at 7201.30.

9.19 am: Jindal Steel shares were trading 4.21 percent up at Rs 59.45. Lenders to Jindal Steel and Power (JSPL) are likely to refinance project loans to the steel maker’s loss-making subsidiaries Wollongong Coal mine (Australia) and Angul steel plant.

9.17 am: Sensex was trading 284 points up at 23,666.50. Nifty was up 71 points up at 7,180. In the 50-share index, Bank of Baroda, Hindalco, Cairn India, Vedanta and Punjab National Bank were up between 2.75 percent and 5.17 percent.

9.15 am: Domestic stock market opened in green on Thursday tracking firm global markets. Sensex opened 154.60 points up at 23,536.47, while Nifty opened 68.95 points up at 7,177.40.

8.41 am: The BSE Sensex and NSE Nifty are likely to open higher on Thursday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and firm global markets.

At 8.26 am (IST), SGX Nifty was trading 0.64 percent, or 46 points, up at 7,182.

Asian stocks rose on Thursday and safe-haven government bond prices fell as crude oil prices extended gains on hopes that big producers will cap production, improving investors’ appetite for riskier assets.

On Wall Street, U.S. shares advanced for the third straight day as the jump in oil prices boosted energy shares. The Dow gained 1.6 percent and the S&P 500 rose 1.7 percent.

Domestic benchmark index BSE Sensex rebounded by 190 points to finish at 23,381.87 on Wednesday on fag-end buying from investors at lower levels coupled with higher European cues following recovery in crude oil prices.

The NSE 50-share also recovered by 60.20 points or 0.85 percent to close at 7,108.45 after moving in a range of 7,123.70 to 6,960.65.

Shares of Maruti Suzuki and Glenmark Pharma will remain in focus on Thursday. With Maruti’s new facility in Gujarat expected to be commissioned early next year, auto major Maruti Suzuki on Wednesday said it will ramp up production at its existing plants in Gurgaon and Manesar to meet rising demand.

Glenmark Pharmaceuticals on Wednesday announced receipt of tentative approval from U.S.FDA for its generic version of azelaic acid topical gel used for treating skin inflammation.

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Sensex Ends 190 Points Up, Nifty50 Settles At 7,108