Markets remain bullish, Sensex crosses 13K level

Markets remain bullish, Sensex crosses 13K level

Mumbai, Oct 1 (PTI) Extending its gains for the second straight day the Bombay Stock Exchange benchmark Sensex on Wednesday regained the 13,000-point level on the back of positive trends in global markets amid renewed hopes that US lawmakers would reach an agreement on bailout plan for financial markets.

The BSE barometer advanced by 195.24 points to close the day at 13,055.67, a day after it gained 265 points defying global trends.

The 30-share Sensex touched day’s high of 13,203.86 after dipping to a low of 12,697.30 in early trade.

Marketmen said buying activity gathered momentum after US stocks jumped the most in six years last evening on renewed hopes of multi-million dollar package to overcome the financial crisis getting the final approval.

Similarly, the wide-based National Stock Exchange index Nifty rose by 29.55 points to 3950.75. During intra-day, Nifty regained the 4,000 marks but could not sustain that level.

IT, bank, consumer durables and teck shares led the surge today.

IT sector index was the best performing index on Wednesday, up by 122.82 points at 3217.90, with segment major Infosys gaining Rs56.35 at Rs1,453.90. Satyam Computers also moved up by Rs22.15 at Rs318.75, while Wipro Ltd, the third-biggest software exporter, rose by by Rs9.45 at Rs349.10.

Polaris Software Lab gained Rs3.40 at Rs71.10, the most since 14 August, on reports the company signed an agreement to buy SEEC, a US- based insurance technology solutions company in an all cash deal.