By IANS
Mumbai : The bulls staged a rally on Indian stock markets Monday, with the benchmark index registering a gain of over 3.5 percent.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange closed at 19,855.12 points, up 691.55 points or 3.61 percent, after hitting the day’s high of 19,879.
The broader 50-share S&P CNX Nifty index of the National Stock Exchange provisionally ended up 218.00 points or 3.79 percent at 5,985.10.
The BSE Mid-Cap index rose 2.03 percent to 9,208.82 points. The BSE Small-Cap index climbed 1.34 percent to 11,971.11 points.
Although there were reports that the markets cheered the victory of Bharatiya Janata Party (BJP) in Gujarat Sunday, leading stockbroker Vidyut Devendra said the reason was not the victory but the stronger than expected US consumer spending, which calmed fears that the world’s top economy was headed towards a recession.
The market breadth was strong Monday. On BSE, 1,948 shares advanced as compared with 942 that declined. Forty-two shares were unchanged. Twenty-seven out of 30 stocks from the Sensex pack closed in the green green.
BSE clocked a turnover of Rs.56.57 billion ($1.43 billion), compared with the previous trading day’s (Thursday Dec 20) Rs.62.6 billion (1.6 billion).