By IANS
Mumbai : Indian shares ended firm Wednesday with a key index surging 2.5 percent – its biggest gain in four months – riding on technology and blue-chip shares.
The 30-share benchmark Sensitive Index (‘Sensex’) of the Bombay Stock Exchange (BSE) gained 375.21 points or 2.51 percent to regain the psychologically important 15,000 mark and closed at 15,307.98, with 28 of its components trading in the green.
Similarly, the broader 50-issue National Stock Exchange (NSE) index, Nifty, ended the day at 4,462.10 levels, gaining 105.75 points or 2.43 percent.
Technology stocks led the surge, with third largest software exporter Infosys Technologies led the major index gainers with a rise of 4.73 percent at Rs.1,967.60.
It was followed by mortgage and housing finance company HDFC, up 4.68 percent at Rs.2,065.95, and top software exporter Tata Consultancy Services, up 4.13 percent at Rs.1,153.70.
While the rally enthused investors’ spirits, analysts warned caution.
“I will not advocate taking fresh positions at the current levels,” said Hemant Desai, an analyst with a leading brokerage firm.
Cement major Associated Cements, India’s most valuable company and Sensex heavyweight Reliance Industries, software exporter Satyam Computers, drug major Ranbaxy Laboratories, top aluminium producer Hindalco Industries and state-run thermal energy producer NTPC were among the other major index stocks that traded in the green.
Pharma major Dr. Reddy’s Laboratories and its rival Cipla were the only two Sensex shares that took a beating. Dr. Reddy’s was down 0.82 percent at Rs.630.25 and Cipla was down 0.40 percent trading at Rs.186.30.