Mumbai: The benchmark Sensex on Monday jumped 340
points, extending gains for the fourth straight session, on a
flurry of buying by funds and retail investors, sparked by the
government's move to push financial reforms.
The Bombay Stock Exchange barometer closed higher by
340.44 points, or 2.11 percent, at 16,498.72 points.
The index has risen by over 750 points in the last three sessions.
The wide-based National Stock Exchange index Nifty
spurted by 102.25 points to close at 4,898.40 points.
Brokers said markets posted smart gains on a strong rally
in most-weighted Reliance Industries and banking sector stocks
after the government's move to push financial reforms.
Prime Minister Manmohan Singh, yesterday, said the
government would steadily pursue reforms to feed economic
growth, while withdrawing the fiscal stimulus by next year.
Reliance Industries regained Rs 2,000 level rising by
3.46 percent to close at Rs 2,024.55.
State Bank of India shot up by 5.19 percent to Rs
2,318.55, ICICI Bank by 4.72 percent to Rs 888.80 and HDFC
Bank by 4.06 percent to Rs 1,706.50.
Strong global cues and a weakening dollar also influenced
the trading sentiment, brokers said.
Singapore shares closed up 1.32 per cent, Hong Kong's
Hang Seng added 377.83 points to close at a two-week high,
while Japan's Nikkei-225 index climbed 19.64 points.
Bureau Report
First Published: Monday, November 09, 2009, 17:14