Sensex gains another 186 pts

Short-covering on the last day of monthly derivatives and increased buying helped the Sensex shrug off tepid markets across Asia and Europe as it rose 1.3 per cent on Thursday. The 30-share index ended up 186.37 points at 14,296.01,after briefly turning negative in early deals. The Sensex has jumped by more than three-quarters from a 2009 low in early March,as increased investor confidence across the globe brought in about $5.5 billion of investments from foreign funds. Marektmen are hopeful that the opening up of the country’s insurance and pensions sectors to foreigners will quell concerns about the market being pricey and sustain the stock market rally. Bharti Airtel bounced 3.4 per cent after falling more than 10 per cent over the past three days following revived merger talks with South Africa’s MTN. L&T gained 2.3 per cent after its results beat forecasts and the company forecast robust orders. The stock has jumped 36 per cent on hopes the government will increase infrastructure spending.