Sensex soars to two-year high on hopes of good Q4 numbers
The Bombay Stock Exchange benchmark Sensex today surged by over 243 points to over 25-month high on brisk buying by funds in anticipation of good fourth quarter earnings by India Inc.business Updated: Apr 05, 2010 17:02 IST
The Bombay Stock Exchange benchmark Sensex on Monday surged by over 243 points to over 25-month high on brisk buying by funds in anticipation of good fourth quarter earnings by India Inc.
Supported by positive global trends, the 30-share Sensex shot up by 243.06 points, or 1.37 per cent, to 17,935.68, a level last seen on February 20, 2008.
The National Stock Exchange index, Nifty, too spurted by 77.90 points to settle at 5,368.40.
Brokers said buying got a boost as there is an all-round optimism in the market that India Inc would post impressive fourth quarter results. Asian markets rallying to 19-month high, buoyed by an upbeat US job data, also helped lift the investor sentiment, they added. US markets too had soared at 18-month high on last Thursday.
Realty, oil and gas, auto, bank, small-cap and mid-cap shares were the major gainers of the day.
The petrochemicals major Reliance Industries, which gained 2.88 per cent, contributed the maximum in today's rise. ICICI Bank shot up 3.26 per cent while Bharti Airtel was another smart gainer at 4.45 per cent.