Sensex ends more than 329 points higher on good GDP numbers
The Bombay Stock Exchange benchmark Sensex zoomed by another 329 points, continuing its upward journey for the third straight session.business Updated: May 29, 2009 16:40 IST
Driven by the good news on the GDP front and the positive outlook expressed by new central ministers taking charge, the Bombay Stock Exchange benchmark Sensex zoomed by another 329 points, continuing its upward journey for the third straight session.
Firming trends in global markets on the back of positive economic data by the US also supported trading sentiment here.
The Sensex, which had gained nearly 710 points in the past two sessions, gained another 329.24, or 2.30 per cent to close at 14,625.25 after rising to 14,727.28, a level last seen in September last year.
Similarly, the 50-share National Stock Exchange index Nifty also surged 111.85 points, or 2.58 per cent, at 4,448.95 after touching an intra-day high of 4,488.05 and a low of 4,340.75.
The Indian economy grew 6.7 per cent in 2008-09, considered better than expected especially at a time when the global economy is estimated to grow at only 2.6 per cent.
With the sea change in trading sentiment, even non-specified small- and medium-cap stocks were also bought.
Among the Sensex stocks, heavy-weight Reliance Industries gained 2.59 per cent at Rs 2,277.50, realty major DLF Ltd surged 8.41 per cent at Rs 403.30, engineering giant Larsen and Toubro was up 4.75 per cent at Rs 1,405.60 and ONGC moved up 3.99 per cent at Rs 1,175.90.