Sensex rises 486 points, at 7-month high

MUMBAI: The Sensex on Thursday gained 485.51 points, or 1.88%, to end at 26,367 —a seven-month high — on rebound in crude oil prices, which broke past the $50 per

MUMBAI: The Sensex on Thursday gained 485.51 points, or 1.88%, to end at 26,367 —a seven-month high — on rebound in crude oil prices, which broke past the $50 per barrel for the first time this year, and expectations of further economic reforms in the third year of the Modi government.

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The Nifty rose 134.75 points, or 1.70%, to 8,069.65. Investor wealth surged by more than Rs2.69 lakh crore in three days, with the Sensex gaining over 1,100 points, on expectations of further economic reforms.

The Sensex on Thursday gained 485.51 points, or 1.88%, to end at 26,367 —a seven-month high — on rebound in crude oil prices, which broke past the $50 per barrel for the first time this year, and expectations of further economic reforms in the third year of the Modi government.

The Nifty rose 134.75 points, or 1.70%, to 8,069.65. L&T emerged as the top Sensex gainer by rising 14% after the company reported an 18.5% yearon-year jump in profit during January-March.

The BSE benchmark has gained 1,137 points in the last three sessions, boosting investor wealth by over ` 2.69 lakh crore during the period.

Tracking equities, the rupee also strengthened 19 paise to end at 67.17 against the US dollar on sustained selling of the American currency. PTI