Sensex,Nifty on a roll

The National Stock Exchange8217;s 50-share Nifty closed higher by 203.55 points,or 4.49 per cent,at a 15-month peak of 4,732.35 points from its previous weekend8217;s close.

Investor confidence seems to be on the rise following a revival in monsoon and the government8217;s expectations that GDP growth will accelerate to over 8 per cent in 2010-11 after the economy started showing signs of recovery.

Finance Minister Pranab Mukerjee said the economy would expand more than 6 per cent. He indicated reforms would continue to get the economy back to 9 per cent growth.

The Government has extended various tax sops and special incentives on trade with markets in Asia and Africa,in its Foreign Trade Policy,in a bid to bolster exporters.

On the global front,Federal Reserve Chairman Ben Bernanke and European Central Bank President Jean-Claude Trichet on August 21 said the world economy is pulling out of its deepest recession since the 1930s.