By IANS,
Mumbai : Backed by global cues, Indian equity markets witnessed a bull run Monday, with a benchmark index gaining more than 408 points to zip past the 19,000 mark, the level last seen almost 32 months back in January 2008.
All 13 sectoral indices on the Bombay Stock Exchange (BSE) were in the green. Banking, energy, realty, and metal stocks were the top gainers.
The 30-scrip sensitive index (Sensex) of the BSE, which opened at 18,845.31 points, ended at 19,208.33 points, 408.67 points or 2.17 percent up from its previous close at 18,799.66 points.
Among the top gainers were key banking stocks SBI, HDFC and ICICI Bank.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty closed 2.13 percent higher at 5,760 points.
Medium size scrips too closed in the positive, but could not keep pace with the index heavyweights. The BSE midcap closed 0.77 percent up and the BSE smallcap index 0.22 percent higher.
Strong industrial production numbers for July, along with acceleration in the agricultural sector have fired up the bourses, said Dinesh Thakkar, chairman and managing director, Angel Broking.
“The key concern area, inflation, is also likely to moderate as we go forward, resulting in most of the monetary tightening measures being front ended,” said Thakkar.
“This along with the strong earnings growth momentum, wherein the Sensex earnings are expected to grow at a 18 percent, Indian Equities would continue to gradually move upwards,” he added.
The market breadth was positive with 1,510 scrips advancing, compared to 1,449 stocks declining and 126 remaining unchanged.
The major gainers on the Sensex were SBI, up 5.52 percent at Rs.3,147.25; HDFC, up 5.32 percent at Rs.664.15; Hindalco Industries, up 4.53 percent at Rs.190.25; and Reliance Infra, up 4.47 percent at Rs.1,055.
There were only four losers on the 30-scrip Sensex: Wipro, down 1.27 percent at Rs.402.70; Reliance Comm, down 0.43 percent at Rs.162.90; Hero Honda down 0.28 percent at Rs.1,727.65, and Bharti Airtel down 0.17 percent at Rs.348.95.
Other Asian markets ended trade on a high, helped by positive sentiments from the Chinese industrial output data.
The Japan’s Nikkei gained 0.89 percent to shut shop at 9,321.82 points.
Hong Kong’s Hang Seng ended 1.89 percent up at 21,658.35 points, while the Chinese Shanghai Composite index closed 0.94 percent higher at 2,688.32 points.
The positivity surrounding the Chinese data rubbed off on the European bourses as well.
At the closing bell here, the FTSE 100 was trading 1.11 percent higher at 5,562.81 points.
The German DAX was ruling 0.84 percent up at 6,267.15 points and the French CAC 40 rose 1.08 percent higher at 3,766.1 points.