Sensex up 337 pts, reaches 4-week high
Mumbai: The Bombay Stock Exchange benchmark Sensex today surged 337 points as investors bought stocks available at lower levels, amid firm trend in global markets. The Sensex, which had plunged 277 points to dip below the 17,000 mark yesterday, bounced back to close 337.05 points, or 2.01 per cent higher at 17,085.34.
The broad-based National Stock Exchange index Nifty also rose 101.65 points to 5,139.15. The rally was propelled by financial stocks.
Brokers said the market sentiment improved in view of motorcycle major Hero MotoCorp`s second quarter earnings beating expectations with 19 per cent rise in profits. It surged 4.13 per cent. A higher ending in Asian stocks and better opening in Europe further fulled the uptrend.
The MSCI`s broadest index of Asia Pacific shares gained 1.41 per cent, fanning the brisk buying in other stock markets in the regions.
All the 30 scrips in the BSE index closed in the positive zone. The realty sector index gained the most — up 3 per cent to 1,846.15, followed by banking index that gained 2.69 per cent to 11,265.66. The two most heaviest on the Sensex with their 20 per cent weigh – Reliance Industries and Infosys Ltd recorded handsome gains. RIL rose by 2.72 per cent and Infosys by 0.89 per cent.