Sensex surges over 395 points at mid-session
Better-than-expected GDP growth in the fourth quarter of 2008-09 at 5.8 per cent pushed the stock market by over 395 points during the mid-session trading on Friday amid all-round buying.
The Sensex surged 396.26 points, or 2.77 per cent, to 14,692.27 at the mid-session, a level last seen in September 2008, with all the sectoral indices trading in the positive zone with gains up to 4.69 per cent.
The Indian economy grew at 6.7 per cent for the 2008-09 fiscal, considered better than expected especially at a time when the global economy is estimated to grow at only 2.6 per cent.
The wide-based National Stock Exchange index Nifty shot up 134.70 points, or 3.10 per cent at 4,471.80.
Major gainers were Larsen and Toubro up 4.11 per cent to Rs 1,397, Mahindra and Mahindra 7.66 per cent to Rs 687.75, Reliance Industries by 2.87 per cent to Rs 2,283.70, Infosys Technologies by 1.66 per cent to Rs 602 and Tata Consultancy by 4.95 per cent to Rs 692.50.