The Hindu Business Line : Sensex surges on upbeat sentiment

The Sensex touched its highest level since May 12 as it gained for the second consecutive day on the back of news that the US Fed Reserve had decided to keep the interest rates steady at 5.25 per cent.

The markets also took a cue from positive Asian and other global markets, dealers said.

Jump in advanced tax collections citing good corporate earnings and decline in crude oil prices also helped the rally in markets.

The BSE-30 Sensex closed at 12,274.27 points, up 165.13 points or 1.36 per cent. S&P CNX Nifty closed at 3,553.05 points, up 1.43 per cent.

"All sectors performed well, there was participation across stocks with banking and infrastructure stocks performing particularly well," said Mr Vijay Kedia, Managing Director, Kedia Securities.

All indices on the BSE ended in the green with the BSE FMCG index being the biggest gainer at 2,083.96 points, up 1.95 per cent.

The top gainers on the BSE included Bajaj Auto, up 3.65 per cent at Rs 2,895.55; Hindustan Lever Ltd, up 3.38 per cent at Rs 258.60; and BHEL, up 2.76 per cent at Rs 2,313.55.

Turnover on the BSE was Rs 3,453.94 crore.

The overall market breadth was positive with 1,372 scrips advancing, while 1,138 scrips declined.

FIIs were net buyers to the tune of Rs 235.38 crore as per provisional data available on the NSE.

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