The benchmark BSE Sensex surged past the psychologically crucial 17,000 mark on Wednesday after a gap of two-and-a-half months, triggering optimism that stocks are back in fashion as an investment option.
The 30-share Sensex closed at 17,077, up 0.48% or 81 points on Wednesday. The turnaround also follows the interest rate reversal mood and the increased foreign portfolio fund inflows.
The last time the Sensex closed above this level was on November 14 last year, at 17,119 points.
Since the beginning of 2012, the Sensex rose by 10.5%, or 1622 points, from 15,455, the closing of December 30.