Sensex soars 350 pts in opening trade on global cues
The Bombay Stock Exchange benchmark Sensex surged by over 350 points to 13,943.45 points in early trade today increased buying by funds as well as retail investors after strong rally in the global markets.business Updated: May 27, 2009 10:44 IST
The Bombay Stock Exchange benchmark Sensex surged by over 350 points in early trade on Wednesday increased buying by funds as well as retail investors after strong rally in the global markets.
The 30-share index surged by 354.22 points to 13,943.45 points with most of the index stocks rising sharply.
The BSE barometer had lost 323.99 points yesterday.
The wide-based National Stock Exchange index Nifty rose by 103.90 points, or 2.52 per cent, to 4,220.60 points.
Marketmen said sentiments were largely bolstered on firming trends in global markets after US consumer confidence showed its biggest monthly jump in six years.
Short-covering by speculators ahead of tomorrow's May month expiry in the derivatives segment also supported the rally, they added.
Major gainers were Reliance Industries (1.54 per cent at Rs 2,177.00), Infosys (1.93 per cent at Rs 1,573.00) and ICICI Bank (4.71 per cent at Rs 698.50).
Reliance Communications spurted by 5.51 per cent to Rs 307.50, DLF Ltd by 3.44 per cent to Rs 348.50, Tata Steel by 3.66 per cent to Rs 374.20, Sterlite Industries by 4.65 per cent to Rs 565.00, Larsen and Toubro by 2.94 per cent to Rs 1,291.70, State Bank of India by 2.91 per cent to Rs 1,737.
Meanwhile, Hong Kong's Hang Seng was up 3.86 per cent and Japan's Nikkei gained 1.84 per cent in early trade.