Sensex surges 253 points in pre-close trade | business | Hindustan Times
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Sensex surges 253 points in pre-close trade

business Updated: Jan 16, 2009 17:28 IST
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The Bombay Stock Exchange benchmark Sensex shot up by over 253 points in pre-close trading at 9,300.45 today as foreign funds accelerated buying in index-related stocks, taking cues from firming global markets after the US government rescued Bank of America.

The 30-share barometer, after rising over 161 points when trade began, was up by 253.71 points at 9,300.45 at preclose with stocks of firms in oil and gas, metals, power and banking leading the recovery.

Similarly, the 50-share National Stock Exchange's Nifty also rose by 83.50 points to 2,820.20 points.

Trading sentiment was buoyed on reports that the US government agreed to inject USD 20 billion more into Bank of America.

Stock brokers said the firm opening on the European stock exchanges, including London, also had a positive impact.

Shares of the country's largest private company, Reliance Industries, shot up by Rs 64.60, or 5.65 per cent, to Rs 1,207.95 after reports that promoters raised their stake in the company.

Other gainers in the Sensex pack were Infosys Technologies (0.52 per cent), RCom (5.02 per cent), Reliance Infra (6.19 per cent), State Bank of India (1.90 per cent) and ICICI Bank (3.08 per cent).