Sensex soars over 400 points in early trade; IT stocks shine

Equity benchmark Sensex rallied over 400 points in opening trade on Thursday led by strong buying sentiment in IT and banking stocks amid positive cues from global markets and sustained foreign fund inflow.

The 30-share index was trading 452.15 points or 1.13 per cent higher at 40,331.10, and the NSE Nifty soared 117.50 points or 1 per cent to 11,856.35.

Tata Consultancy Services (TCS) was the top gainer in the Sensex pack, surging over 4 per cent, after the IT major announced a mega-Rs 16,000 crore buyback plan at Rs 3,000 per equity share.