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Tracking a firming global trend, the Bombay Stock Exchange benchmark Sensex today rose the most in nearly six months by 567 points on buying by funds in IT, bank and metal stocks.
The 30-share index shot up by 567.50 points to close at 16,416.33, the biggest jump since March 1. It touched the day’s high of 16,462.03 in tandem with a firming trend in the Asian region and a higher opening in Europe.
The gauge had jumped by 623 points on March 1.
The broad-based National Stock Exchange Nifty index jumped by 171.80 points to 4,919.60, after touching the day’s high of 4,934.40 points.
Reliance Industries rose 4.8 per cent to Rs 754.05, while Infosys gained 4.23 per cent to Rs 2,297.85. The two scrips carry nearly 21 per cent weightage on the benchmark Sensex.
The upsurge was led by software technology exporting companies on expectations of better earnings after the Federal Reserve said the US economy is poised to grow in the second half of 2011.
IT companies get more than 50 per cent revenue from the US and European markets.
The IT sector index rose 5.06 per cent to 4,958.90 as Tata Consultancy Services rallied 7.32 per cent to Rs 1,018.60 and Wipro, the third-biggest software maker, rose 3.12 per cent to 329.20.
Barring Maruti Suzuki and ONGC, all other 28 index-linked stocks closed with gains. All the sectoral indices ended in the positive zone.
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