Sensex up 286 points on global rally post Greece debt bailout

The BSE Sensex shot up to a 2-week high of 18,722.30,up 286.11 points or 1.55 per cent.

Joining the global rally after European leaders agreed on a second round of aid to Greece,Dalal Street gained 1.6 per cent on Friday amidst mixed expectations from the central banks policy review next week.

The BSE Sensex shot up to a 2-week high of 18,722.30,up 286.11 points or 1.55 per cent. The broad-based NSE 50-issue Nifty also rebounded by a sharp 92.35 points or 1.67 per cent to 5,633.95. Investors bought blue chips across sectors buoyed by a global rally post the bailout of debt-laden Greece by European Union and IMF.

Overall,12 of the 13 sectoral indices closed in the green,with bankex,teck,auto,capital goods,IT and oil & gas leading the pack. Only consumer durables ended in the red. Uncertainty over high debts in euro-zone nations had dampened investor sentiment worldwide and the deal provided the much needed relief. US stocks too rallied yesterday.

After Thursdays steep fall,Reliance Industries shot up 1.49 per cent ahead of the first quarter earnings to be announced on Monday. The second-heaviest Infosys gained 2.10 per cent. The fact that we will have a RBI policy review and F&O expiry next week will make proceedings even more interesting. Results will keep pouring as well. A slew of global economic statistics are also due next week. Next week promises to be action packed, said Amar Ambani,head of Research,IIFL.