Sensex up 84 points

Stock prices jumped to a 12-week closing high on Thursday as investors made purchases almost across-the-board, encouraged by easing international oil prices and hopes that inflation may not rise further. The benchmark Sensex which closed above the 5,250 level is set to cross the 5,300 mark now.

Tech stocks led the bull rally on the back of good response to the Tata Consultancy Services (TCS) IPO, while easing international oil prices helped the old economy stocks. Sugar stocks also moved up following the announcement of reduced sugar quota for July at 10 lakh tonnes and hopes of a sugar package ahead of Maharashtra elections.

Snapping its two-session losing streak, the 30-share BSE Sensitive index ended with a solid gain of 83.71 points at 5,252.78, its best close since May 13.

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‘‘The mood in the market appeared bullish throughout the trading session following overnight easing of the international oil prices and the recent revival of the monsoon,’’ said BSE dealer Pawan Dharnidharka.

The undertone of the market has been optimistic since the last few sessions following the revival of monsoon in the country.

However, rising international oil prices pulled down stocks on Wednesday.