Sensex vaults 576 pts on global cues, good monsoon hopes

The Sensex opened strong at 25,432.10 and continued to rise to hit the day’s high of 25,897.87. It settled at 1-month high of 25,881.17, a gain of 575.70 points, or 2.28 per cent — its biggest single-day gain since March 1. The 50-share NSE Nifty recaptured the 7,900-mark to hit a high of 7,941.20 before winding up at 7,934.90, a hefty rise of 186.05 points, or 2.40 per cent. Financial stocks led the rally followed by capital goods, technology, power, energy, realty and auto.

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The rupee, after a 9-day fall, bounced back by 42 paise against the dollar to close at 67.33 after selling in the US currency by exporters accelerated.

Dealers said traders covered up pending short positions ahead of the F&O expiry in the derivatives segment on Thursday supported the upside while better-than-expected fourth quarter earnings results added to the bullishness. Barring China, most Asian markets closed on a firm note following strong Wall Street close overnight. Hong Kong led the rally, surging 2.71 per cent, followed by Japan 1.57 per cent, South Korea 1.18 per cent, Taiwan 1.15 per cent and Singapore 0.60 per cent.