Sensex shoots up 473 pts; biggest gain in 4 months | business | Hindustan Times
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Sensex shoots up 473 pts; biggest gain in 4 months

A slew of positives like easing inflation and resolution of the Egyptian conflict helped the benchmark Sensex shoot up over 473 points -- biggest single day gain in four months -- to 18,202.20, as investors bought sound stocks at lower levels despite capital outflows.

business Updated: Feb 14, 2011 17:08 IST

A slew of positives like easing inflation and resolution of the Egyptian conflict helped the benchmark Sensex shoot up over 473 points -- biggest single day gain in four months -- to 18,202.20, as investors bought sound stocks at lower levels despite capital outflows.

Besides, market regulator Sebi's decision to probe the recent downslide in stock markets and strong global cues in view of Egyptian President Hosni Mubarak's decision to step down helped boost investor sentiment.

Marketmen said that fall in global crude oil prices prompted operators as well as speculators to cover their short positions.

The sentiment was so positive that all the 13 sectoral indices ended with sharp to moderate gains of between 5.26% and 0.97%, with capital goods leading the pack.

The recently battered interest-rate sensitive stocks from auto, consumer durables, banking and realty sectors followed the suit. Metal and power shares also attracted good buying support.

The Bombay Stock Exchange 30-share barometer started up and gradually moved up to end above 18K-mark at 18,202.20, displaying a net gain of 473.59 points, largest rise since October 13, 2010, when it had gained by 484.54 points, or 2.67%. Last Friday, Sensex had flared up by 265.57 points.

Similarly, the NSE 50-issue also spurted by 146.00 points or 2.75% to end at 5,456.00.

A sharp rise in heavyweights like L&T, ICICI Bank, Infosys Tech, HDFC, Tata Motor, HDFC Bank, BHEL, Tata Steel, TCS and ITC mainly supported the rally.