Sensex crosses 12,200 level

The Sensex trimmed some gains towards the close, but ended the day with gains of 1.46 per cent at 12,218.78, while the Nifty advanced by 1.35 per cent or 47 points to close at 3605.

Banking stocks led today8217;s surge. A favourable US court ruling on a generic drug boosted Dr Reddy8217;s Lab and Ranbaxy. Steel shares extended gains on firm global steel prices. Media major Zee Telefilms spurted. Shares of companies sitting on large real estate rose further.

Asian stocks rose, led by buoyant Japanese stocks that climbed ahead of a long holiday period. Taiwan stocks rose to a fresh 5-1/2-year, and Singapore8217;s Straits Times share index set an all-time high led by gains in DBS Group.

HDFC joined the list of companies coming out with strong Q4 March 2006 results in a booming Indian economy. A host of companies including Infosys, Gujarat Ambuja Cement, Satyam Computer, TCS, Wipro, HDFC Bank, Cipla, Grasim Industries and Maruti Udyog reported healthy Q4 results.