Foreign Institutional Investors (FIIs) pushed big into the nation's stock markets on Monday, hoisting the benchmark Sensex of the Bombay Stock Exchange beyond the 19,000-mark with the highest intra-day gain in four months.
Bank and home loan shares ruled strong, besides oil and gas.
Aided by a 13.8 per cent industrial growth in July for India and a matching 13.9 per cent show for August in China, they pumped in as much as RRs,1,176 crore on Monday amid a positive sentiment worldwide. The 30-share Sensex rose 408 points or 2.2 per cent to a 31-month-high of 19,208 while the 50-share Nifty of the National Stock Exchange rose 120 points or 2.1 per cent to close at 5,760.
"The FIIs are investing in India for the long term as India is expected to deliver higher growth as compared to developed markets," said DD Sharma, vice-president, research, at Anand Rathi Financial Services.
The FIIs have put in R4,579 crore in September so far, and R63,961 crore in all in 2010.
SBI rose 5.5 per cent to end the day at R3,147.30.