The Bombay Stock Exchange benchmark Sensex surged over 424 points in pre-close trading on Friday on frantic buying by funds and general investors in heavy-weight stocks.
The Sensex, which commenced the day higher, spurted by 424.51, or 2.96 per cent to reach 14,770.13 at 1515 hrs. Fundamentally strong stocks in banking, capital goods and information technology segments supported the uptrend.
Similarly, the wide-based National Stock Exchange index Nifty spurted by 138.15 points at 4,380.00 at the same time.
Marketmen said buying activity picked up as major market players indulged in creating fresh long positions on the first day of trading in the derivative segments.