Sensex soars 335 points, regains 10,000 level after 11 weeks
After nearly three months, the Sensex regained the 10,000 point level today as speculators indulged in covering their pending positions amid firming overseas trends.business Updated: Mar 26, 2009 18:10 IST
The bellwether Sensex soared by 335 points to regain the 10,000 level after nearly 11 weeks as bulls tightened their grip on hectic short-coverings on the day the March settlement in derivatives was over.
Marketmen said the mood is now steadily turning in favour of bulls on the back of positive developments.
Extending the rally to the fourth straight day, the Bombay Stock Exchange 30-share barometer gained 335.20 points or 3.47 per cent to settle the day at 10,003.10, the level not seen since the first week of January.
The Sensex has jumped by a whopping 1,036.42 points or 11.56 per cent in the four-day rally.
Similarly, the National Stock Exchange's 50-share Nifty finished above 3,000 at 3,082.25, a net rise of 97.90 points or 3.28 per cent from the previous close.
In the Sensex pack, Tata Motors spurted by 7.94 per cent, L&T by 6.10 per cent, Sterlite Ind by 5.97 per cent, TCS by 5.94 per cent, BHEL by 5.85 per cent, Tata Power by 5.57 per cent, ONGC by 5.36 per cent, Maruti Suzuki by 5.07 per cent, Wipro by 5.03 per cent and Tata Steel by 5.00 per cent.
Sustained buying by foreign institutional investors (FIIs), which pumped in Rs 348.65 crore on March 25 as per provisional data, mainly boosted sentiment.