Sensex up 360 points to two weeks high

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Mumbai: The Bombay Stock Exchange benchmark Sensex today climbed to two-week high, gaining 360 points on foreign fund inflows and firm global markets on reports that the world`s leading bankers are evolving a plan to help resolve the euro zone crisis.

Sensex, which gained 115 points yesterday, opened 590 points up. However, it witnessed some profit-booking and closed 359.99 points up at 16,483.45, the level last seen on November 17. In all, 25 of the 30 Sensex stocks closed with gains, led by Reliance and Infosys — the two which carry the heaviest weight on the index.

RIL was up 2.53 per cent, while Infosys gained 1.74 per cent. ICICI Bank rose 6.76 per cent to its highest level in two weeks following the recent fall. The stock had plunged 23.5 per cent in November. The National Stock Exchange index Nifty regained the 5,000 level intra-day, but ended at 4,936, up 104.80 points.

Brokers said cues from Asia and Europe were firm as after the US Federal Reserve, the European Central Bank and the central banks of Canada, Britain, Japan and Switzerland agreed to provide funding to resolve euro zone debt crisis. Sectorally, the metals index gained 4.14 per cent to 10,648.03, followed by bankex — up 3.72 per cent at 10,217.20. Realty index gained 3.54 per cent to 1,626.74 and consumer durables, 2.58 per cent to 5,789.62.

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