Sensex surges by 614.61 points

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Mumbai, July 9 (UNI) The Sensex surged by a whopping 614.61 points to close at 13,964.26 on the Bombay Stock Exchange today even as Nifty gained 168.55 points at 4,157.10 on strong positive global cues due to sharp fall in oil prices.

The benchmark index of BSE touched a high near the 14K mark at 13,998.48 in late trade on strong buying interest across the sector following positive cues in Asian markets, where most of key indices today traded with considerable gains.

The broader based Nifty index of National Stock Exchange succeeded in crossing the 4000 mark to hit a day's high at 4,168.55 before closing with a smart gain of over four per cent in late trade.

Brokers said the Indian bourses today pared gains on account of a combination of positive sentiments including global market strenthening due to fall in oil prices and back home there was less possibility of the Congress-led UPA government at centre falling after the Left parties withdrew support. Reportedly, Samajwadi Party and some other smaller parties are supposed to vote in favour of Congress-led UPA government to win the confidence motion in parliament.

Market breadth was strong today. Mid-cap index of BSE gained 2.91 per cent to 5,470.68, while Small-cap surged 3.46 per cent to 6,789.88. All the sectoral indices traded with smart gains led by realty, which climbed 6.6 per cent, Power index was up 5.39 per cent, Bankex by 4.87 per cent, while Capital Goods, FMCG, oil &gas and IT indices ended up by 4.30-4.70 per cent.

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