Tracking improvement in the Asian markets,shares in India today notched up significant gains with the benchmark Sensex rising nearly 200 points to close at 16,416.84,its highest in over two weeks,leaving a positive rub-off for the rupee.
As investors turned bullish worldwide following hopes that Greece will not leave the troubled euro zone,the BSE index resumed higher at 16,289.82 and hit the days high of 16,439.97. It finally closed at 16,416.84,showing a gain of 199.02 points or 1.23 per cent from its previous close.
The rally was led by banking stocks including SBI (up 4.76 per cent),ICICI Bank (2.29 per cent),HDFC Bank (1.52 per cent) as investors were attracted to the sector following steady fourth quarter earnings and better outlook.
The rupees strong performance also aided sentiments, closing at Rs 55.18 to a dollar gaining 18 paise over Fridays close.