The Bombay Stock Exchange benchmark Sensex shot up by 349 points today to over 19,470 as funds bought strong stocks, led by auto and IT sectors, amid forecast of normal monsoon and firm global cues.

The 30-share BSE index Sensex, which had gained 31 points in the previous session, surged by 349.15 points to close the day at 19,470.98. Similarly, the broad-based National Stock Exchange index shot up by 110.90 points to 5,851.65.

Brokers said reports that rains will be 98 per cent of the long period average (LPA) this year, coupled with a firm tend in the Asian region and higher opening in the European market, pushed up the domestic market.

The auto sector index gained 2.72 per cent to touch 9,609.84, as Mahindra and Mahindra rose Rs 36.70 to Rs 763 and Tata Motors Rs 48.05 to Rs 1,251.35.

Monsoon forecast also buoyed companies such as National Fertilizers, Gujarat State Fertilizers and Chemicals and Rashtriya Chemicals and Fertilizers.

The IT sector rose 2.39 per cent to 6,248.18 as HCL Technologies led the gains among software exporters. It added 9.93 per cent to Rs 522.85 after reporting profits that exceeded the market estimates. TCS climbed 4.63 per cent to Rs 1,218.80 ahead of its earnings report tomorrow.

The most-heaviest on the Sensex, Reliance Industries, jumped by Rs 14.35 to Rs 1,025.70 and the second-heaviest Infosys Technologies by Rs 18.80 to Rs 2,905.50. The two carry nearly 23 per cent weightage on the benchmark.

Major market supporters were HDFC Bank, ICICI Bank, Tata Power, Tata Steel, Bajaj Auto and BHRL on increased buying by investors at lower levels.

As buying spilled over to broader market, the small-cap sector index gained 1.29 per cent to 8,875.80 and the mid-cap index by 1.18 per cent to 7,225.87.

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