The Bombay Stock Exchange benchmark Sensex registered its biggest single day gain of 561 points in ten months after EU and IMF agreed on a 1 trillion dollar emergency fund for the Union to help contain the region’s credit crisis.
The Sensex, which lost over 788 points over the past five sessions, bounced back by 561.44 points to 17,330.55 on positive Asian cues.
Marketmen said European Central Bank’s announcement that it will intervene in the public and private bond markets in an effort to help stave off a sovereign-debt crisis bolstered trading sentiment.
Of the 30-BSE index components, 25 stocks gained while six ended in the negative. The uptrend was further fueled by a higher closing in Asian stock markets and better opening in Europe.
The wide-based National Stock Exchange index Nifty shot up by 175.55 to 5,193.60, as stocks in realty, metal and banking segment surged between four to six per cent.
Reliance Industries, the country’s most valuable company, climbed to a two-week high by adding Rs 46.35 to Rs 1,080.20 while Infosys Technologies shot up Rs 41.35 to Rs 2,661. The two carry nearly 23 per cent weightage on the Sensex.