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Journalism of Courage
The Bombay Stock Exchange benchmark Sensex gained nearly 160 points on fresh buying by funds in line with firming global trends.
The 30-share index closed higher by 159.91 points at 16,852.91 points as investors purchased heavyweight stocks such as Reliance Industries and Infosys Technologies,carrying nearly 23 per cent weightage on the Sensex.
The wide-based National Stock Exchange index Nifty regained crucial 5,000 points level after almost a week by gaining 47.90 points at 5,006.85 points.
Brokers attributed fresh buying by funds to a firm trend in Asian stock markets. Buying for new monthly contract in derivatives segment on expectations of an early recovery in the global economic recession also supported the firm trend.
The barometer had lost nearly 88 points in its previous session on Friday last week. The stock market was closed on Monday on account of 8216;Vijay Dashmi8217;.
Brokers said Indian stocks still looking fancy of global investors and the benchmark index rose to more than double from its lows on March 9. Overseas investors have bought stocks worth Rs 54,200 crore since January 1,fueling a 75 per cent surge in the Sensex this year.
IT sector index gained the most by 2.26 per cent to close at 4,513.31 points as Tata Consultancy Services rose to the highest in more than two years by adding Rs 23.35 to Rs 610.40.
