Sensex shoots up 473 pts; biggest gain in 4 months

Posted By: Pti
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Mumbai, Feb 14 (PTI) A slew of positives like easinginflation and resolution of the Egyptian conflict helped thebenchmark Sensex shoot up over 473 points -- biggest singleday gain in four months -- to 18,202.20, as investors boughtsound stocks at lower levels despite capital outflows.

Besides, market regulator Sebi''s decision to probe therecent downslide in stock markets and strong global cues inview of Egyptian President Hosni Mubarak''s decision to stepdown helped boost investor sentiment.

Marketmen said that fall in global crude oil pricesprompted operators as well as speculators to cover their shortpositions.

The sentiment was so positive that all the 13 sectoralindices ended with sharp to moderate gains of between 5.26 percent and 0.97 per cent, with capital goods leading the pack.

The recently battered interest-rate sensitive stocks fromauto, consumer durables, banking and realty sectors followedthe suit. Metal and power shares also attracted good buyingsupport.

The Bombay Stock Exchange 30-share barometer started upand gradually moved up to end above 18K-mark at 18,202.20,displaying a net gain of 473.59 points, largest rise sinceOctober 13, 2010, when it had gained by 484.54 points, or 2.67per cent. Last Friday, Sensex had flared up by 265.57 points.

Similarly, the NSE 50-issue also spurted by 146.00 pointsor 2.75 per cent to end at 5,456.00.

A sharp rise in heavyweights like L&T, ICICI Bank,Infosys Tech, HDFC, Tata Motor, HDFC Bank, BHEL, Tata Steel,TCS and ITC mainly supported the rally. .

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