Sensex gains 336 points at mid-session

The benchmark index remained on an upward march at mid-session on the Bombay Stock Exchange on Monday by gaining over 336 points on aggressive buying by funds.

The Sensex remained in bullish mood after reports the US housing loan crisis was easing. The 30-share index shot up by 338.99 points at 14,763.03 as foreign and domestic funds purchased heavy-weight stocks such as Reliance Industries.

Similarly, the wide-based National Stock Exchange index Nifty increased by 88.20 at 4,278.35 as purchasing interest was more confined to large cap stocks.

"A firm global trend helped today's rally," said Delhi-based broker Rajiv Malik of RNM Financial services.

The Morgan Stanley Capital International Asia-Pacific Index added 0.9 per cent. The US stocks climbed on Friday, helping the Standard and Poor's 500 Index to its biggest weekly gain in five months.

Reliance Industries, the heaviest scrip on the Sensex, rose Rs 26.50, or 1.5 per cent, to Rs 1,801. State Bank of India, the country's largest lender, added Rs 49.25, or 3.4 per cent, to Rs 1,515.5. ICICI Bank, the second-largest lender, gained Rs 25.75 to Rs 860. These three scrips carry over one-fifth weight on the Sensex.

First Published: Aug 27, 2007 14:13 IST