The Bombay Stock Exchange benchmark Sensex on Monday surged by 414 points on heavy buying support in fundamentally strong shares in a wide array of sectors such as metal, bank, oil and gas and IT sectors.
The 30-share Sensex, which lost 490 points on Friday, recovered 413.96 points at 15,757.08 as the index-heaviest Reliance Industries and Infosys Technologies, besides Tata Steel notched up significant gains.
The key-index rose to a high of 15,851.88 points and dipped to a low of 15,321.56 points during the day.
The National Stock Exchange index Nifty shot up by 114.20 points at 4,761.20, after touching the day's high of 4,798.55 and a low of 4,628.80 points.
Metal index gained the most by rising 371.21 points at 13,811.56 followed by bank index by 314.13 points at 7,904.09.
Oil and gas index shot up by 267.48 at 10,550.12 as the sector leader and heaviest on the Sensex Reliance Industries shot up by Rs 83.50 at Rs 2,405.70.
Realty sector rose by 136.60 points at 7,483.56, consumer durable index by 135.58 points at 12,755.93 and capital goods index by 96.23 points at 3,913.88.
Information Technology segment stocks rose by 61.17 points at 3,748.57 on reports that the Prime Minister's Office directed the Finance Ministry to extend by 10 years the tax sops which are set to end in March 2009.