Mumbai: The BSE Sensex maintained its rising trend since last week as it shot up by more than 400 points at midsession today on funds buying blue-chip stocks led by the software and realty sectors.
A firm opening in European and Asian stock markets further fuelled sentiment and 30-share Sensex climbed 411.46 points to 15,156.38 at 1330 hrs.
The 50-share National Stock Exchange index Nifty rose by 117.25 points, or 2.68 percent, to 4,492.20.
The upsurge was supported by information technology shares after segment major Tata Consultancy Services, a leading software developers and Sensex-linked firm, recorded handsome gains of over 17.42 percent after its first-quarter profit beat analysts’ estimates.
The current rally recorded a gain of 9.2 percent last week, recovering most of the 9.5 percent loss a week earlier after the Budget revealed the widest budget deficit in 16 years and failed to lay out firm plans to sell state assets.
The stocks` rating was raised to "equal-weight" from "underweight" at Morgan Stanley, which said uncertainty over earnings in the current fiscal year has been reduced.
Foreign institutional investors bought a net Rs 292 crore of Indian stocks on July 16.