Sensex knocks previous gains; up by 616 pts

Mumbai, June 15 (UNI) BSE Sensex today surged to 9545.06 points on active bargain hunting by investors, recording biggest-ever single-day gain of 616 points compared to the previous close of 8929.44.

Other factors attributed towards the bull run are - recovery in the global markets and bottom fishing by the domestic mutual funds helping Sensex to close up by more than seven per cent.

All the BSE Indices closed in the green. BSE Metal, Auto, and IT were up by seven per cent, BSE Capital Goods was up by 10.3 per cent and BSE Small cap was up by four per cent, whereas the S&P CNX Nifty midcap was up by six per cent.

Similarly, the S&P CNX Nifty closed in the green at 2798 up by 166 points. Earlier, the sensex rallied hard and gained in the opening move by 133 points, touching a high of 9589.05 points and witnessing a swing of 497 points in the intra-day trade.

There were no losers on the Sensex and the major gainers were - BHEL up 14.48 per cent, Bajaj Auto, Grasim Industries, L&T, Hero Honda, Infosys Technologies, HLL and HDFC bank all up by 8.0 to 14.5 per cent.

Contradictory reports are doing round about the performance of the Indian markets, yesterday in a news report Merrill Lynch Chairman Hemendra Kothari said, ''I personally see the corrections as temporary and see the long term investors coming in the market soon.'' However, today the same agency announced that the Fund Managers show lowest ever confidence in the Indian market in five years.'' More UNI VS MJ VKG1713