The Bombay Stock Exchange benchmark Sensex today rallied by over 340 points to close at five-week high of 16.772.56 on aggressive buying by institutional investors, who appeared enthused by the Budget proposals presented by Finance Minister Pranab Mukherjee on Friday.
The 30-share Sensex spurted by 343.01 points to 16.772.56, while the National Stock Exchange index, Nifty, regained the crucial 5,000-level by adding 94.70 points to end at 5,017.00.
For both the indices, these are the highest levels seen since January 25.
Marketmen said January exports rising for the third straight month further boosted the sentiment. Auto, metal and banking shares recorded handsome gains. Manufacturing output climbing the most in 30 month in February also helped, they added.
Besides a growth-oriented Budget and encouraging exports data, a higher opening in Europe was additional factor for the upsurge. Asian stocks were, however, mixed. In its last session on Friday, markets had closed up by 175 points.
In the 30-BSE index kity counters, 25 closed with gains while five ended in negative zone. All the sectoral indices closed up, led by auto index.
