Sensex at 4-month high

The Sensex on Tuesday soared 226 points riding on the surge in capital goods, FMCG, auto and banking shares to close at fourth-month high of 17,618.35 amid strong global cues after Eurozone finance ministers agreed on a deal to nurse the ailing Spanish banks back to health.

The BSE benchmark index, which had lost 129 points on Monday, was under some pressure in early trade after Asian markets slumped on disappointing Chinese imports data.

However, sentiments quickly changed after reports of EU leader ratifying the Spanish deal started trickling in.

Leaders in Brussels announced steps, including an extra year until 2014 for Spain to achieve its deficit reduction targets, which drove stocks in the UK, France and Germany higher.

With 28 scrips of the 30-share index ending higher, the index closed with a gain of 226.37 points. Today’s level is highest for Sensex after it closed at 17,675.85 on March 15.

Similarly, the 50-share NSE Nifty shot up by 70.20 points, or 1.33 per cent to 5,345.35.