New Delhi: The Bombay Stock Exchange benchmark Sensex witnessed sharp rally to close with the highest single day gain of over 6%, since early October 2008 on Monday. Domestic indices were tracking firm cues from the markets other global markets.
Sensex crossed 12,100 mark and NSE Nifty surged above 3,600 level. Sentiments were also up after a survey showed that activity in Indian factories for April expanded for the first time in five months.
Markets opened positive today after a long weekend. Apart from buoying Asian bourses, phenomenal opening of the European markets also helped to keep traders buying morale firm.
All sectoral indices ended in green but strong buying was witnessed mainly in metal, IT, bank, capital goods, technology, FMCG, reality, auto and consumer durables stocks.
The 30-share BSE index closed higher by 731.50 points at 12,134.75 and the 50-share NSE Nifty ended up by 180.05 points at 3,654.
Leading the rally today was Sterlite Industries by 16.56% to Rs476.80, Hindalco by 13.74% to Rs61.25, Mahindra & Mahindra Ltd by 13.07% to Rs549.80, HDFC by 13.06% to Rs 1,957.60, ICICI Bank by 10.74% to Rs529.05, Tata Steel by 10.48% to Rs263.00, Wipro Ltd by 10.32% to Rs 364.60 and ITC Ltd by 8.75% to Rs205.65.
Bharti Airtel gained 1.15% today after the company entered into a joint venture with Alcatel-Lucent on Friday to manage Bharti pan-India broadband and landline services.
Maruti Suzuki India stocks also rose by 2.85%, after increase in sales by 15% in April was reported by India’s largest automaker.
Asian markets ended higher on hopes of economic recovery as US manufacturing activity in April contracted at a slower-than-expected pace. Expansion in China for the first time in nine months and pledge of regional leaders to start a $120 billion foreign-currency reserve pool, also contributed to the positive sentiments. Japan’s Nikkei ended up by 1.69% and Hong Kong’s Hang Seng closes higher by 5.5%.