International markets push Dalal Street up 395 points

Dealers said gains were underpinned by short-covering ahead of the expiry of the monthly futures contracts on Thursday. Reliance Industries rose 2.5 per cent to Rs 2,882.85 after it said on Friday that it had sold 4.01 per cent of subsidiary Reliance Petroleum for Rs 4,020 crore.

The Sensex is up nearly 40 per cent so far this year and has rebounded 37.6 per cent since touching a three-month closing low in August. “The markets are mainly moving on overseas cues… it could go up further and then correct,” said an analyst. “Overall, on a two to three months perspective, we are positive on the market.”

The index lost 4.3 per cent last week, after having fallen 7 per cent over six sessions to Thursday.

BSE Sectoral Indices

AUTO Escorts 2.8%; Bajaj Auto 2.1%

BANKEX HDFC Bank 5.2%; Union Bank 3.5%

CD Titan Ind. 5.6%; Lloyd Electric & Eng. 2.96%

CG Kirloskar Bro. 10.6%; Bharat Earth Movers 9.3%

FMCG GSK 2.9%; United Spirits 2.7%

HC Bilcare 9.5%; Matrix Lab. 4.4%

IT NIIT 10.9%; I-Flex 7.5%

METAL Jindal steel 16.7%; NALCO 14.4%

OIL&GAS Cairn India 4.4%; ONGC 3.4%

POWER Crompton Greaves 8.5%; Suzlon Energy 4.1%

PSU NALCO 14.4%; Bharat Earth Movers 9.3%

REALTY Ansal Prop 11.01%; Sobha Developers 7.2%

TECk Balaji Telefilms 12.5%; NIIT 10.9%