Sensex jumps 312 points

The bull bandwagon gathered momentum on Monday with the S038;P CNX Nifty hitting the 4,000 mark, and the Sensex achieving its highest level in a month and a half. A rally in global markets and reports that India8217;s monsoon will be good this year boosted the bourses.

Index heavyweight Reliance Industries RIL struck an all-time high, aiding the surge in key indices. The 30-share BSE Sensex jumped 312 points 2.33 per cent to settle at 13,695.58 8212; the Sensex8217;s highest closing since February 22, 2007. The S038;P CNX Nifty advanced 96 points 2.45 per cent to end at 4,013.35. It had last closed above the 4,000 level on 22 February 2007.

The Sensex rose 581.77 points 4.43 per cent in the past two trading sessions. From a low of 12,455.37 on April 2, 2007, the Sensex has gained 1,240.21 points 9.95 per cent in a short while. World stock markets hit record peaks on Monday after top policymakers highlighted the strength and improving balance of global economic growth, encouraging already bullish investors to increase their appetite for risk.