The BSE Sensex shot up 325 points to close at 16,557.23 today on across-the-board buying,led by RIL and Infosys,amid firm global markets as fears of euro-zone debt troubles receded with Germany and France agreeing to support European banks.
Realty,consumer durables,auto and banking segments attracted heavy buying. IT counters too were in demand ahead of IT bellwether Infosys results on Wednesday.
In all,25 of the 30 Sensex scrips ended in the green,while others were down. Similarly,all the 13 sectoral indices except healthcare ended in the green.
RIL gained 3.30 per cent and IT bellwether Infosys shot up 3.36 per cent ahead of its quarterly results. The two carry around 20 per cent weight in the Sensex.
The BSE 30-share barometer opened higher and settled at 16,557.23,up 324.69 points or 2 per cent. On Friday,it had surged 440.13 points or 2.79 per cent.
The 50-issue Nifty today of the National Stock Exchange also spurted 91.55 points or 1.87 per cent to close at 4,979.60.
Globally,while some Asian markets were up,European equities opened largely higher and lifted investor sentiment.
Last evening,German Chancellor Angela Merkel and French President Nicolas Sarkozy announced that they will present a comprehensive package of proposals to solve the euro-zone sovereign debt crisis and support financially troubled European banks by the end of this month.
“The mood remained optimistic after Friday¿s rally. After a brief pause during the early morning trade,market rallied supported by positive openings in the European markets,” said Shanu Goel,Senior Research Analyst at Bonanza Portfolio.
“IIP (industrial growth index) and WPI (wholesale price index- based) monthly Inflation numbers will be announced this week,which will lead to heavy volatility on the bourses,” Goel added.
She also said that the earning seasons will kick off with Infosys Q2 FY’12 results on October 12 and impact the market.
Globally,Key indices in Singapore and South Korea closed higher,while China’s was down. Hong Kong finished stable,while Japan and Taiwan markets were closed. European stocks were firm in the afternoon deals. The CAC,the DAX and the FTSE were trading up between 0.7 per cent and 0.3 per cent.
Back home,Tata Motors was the top Sensex gainer,with a rise of 7.40 per cent,followed by Tata Power (5.44 pc),DLF (4.74 pc),Wipro (4.42 pc),Sterlite Ind (3.48 pc),ONGC (3.42 pc),Infosys (3.36 pc),Bajaj Auto (3.34 pc),RIL (3.30 pc),Tata Steel (3.25 pc),HDFC (2.60 pc),ICICI Bank (2.44 pc),Bharti (2.38 pc),NTPC (2.34 pc),BHEL (2.18 pc),TCS (2.03 pc),Hero Honda (1.72 pc) and Coal India (1.68 pc).
Among the sectoral indices,BSE-Realty flared up 3.22 pc,IT by 2.85 pc,Consumer Durables by 2.78 pc,Oil&Gas by 2.72 pc,Teck by 2.66 pc and Auto by 2.26 pc.
Total market breadth on the BSE remained positive as 1,686 stocks closed with gains,while 1,084 ended with losses. The total turnover was relatively higher at Rs 2,214.13 crore from Rs 2,072.47 crore last Friday.