MUMBAI: The benchmark Sensex surged to two months high level on the Bombay Stock Exchange on Wednesday, while closing the gap on psychological 12K level on the back of robust buying in heavyweight stocks.
The Sensex registered a smart rally of 2 per cent, gaining support from firm trend in global markets, easing oil prices and encouraging domestic industrial growth data.
The Sensex ended 233 points higher at 11,893.79, its biggest gain since July 20, while the National Stock Exchange's Nifty index added 64.65 points, or 1.9 per cent, to settle at 3454.55.
Capital Goods index shot up by 151.44 points to close at 7955.37. The segment major Larsen and Toubro advanced on the back of reports of company plans on investing 400 million dollar in its ship-building business over the next six years.
Banking index surged 211.29 points to settle at 5547.75, with most of the banking majors like ICICI Bank, HDFC Bank, State Bank of India and UTI Bank moving higher on expectations that easing crude oil prices might discourage any further rise in interest rates by the Reserve Bank.
Falling oil prices led to a positive impact on automobile and airline shares as well. The auto index gained 111.48 points to reach 5195.41 as Tata Motors gained Rs.16.05 to Rs 869.85 and Maruti added Rs 33.75 to 955.95.
PSU index jumped by 140.09 points to 5459.61, while IT sector index rose by 86.96 points to close at 4310.77 with Infosys climbing Rs.40 to Rs.1,810 on reports the company was forging an alliance with Schlumberger, the world's largest oilfield-services company, to provide software services to oil and gas companies.
Another IT major Satyam Computer rose Rs.18.95 to 802.75 on reports the company would double its workforce in the next five years with soaring outsourcing demand.
Healthcare index rose by 61.63 points to 3583.30, with Wockhardt gaining Rs.9.95 to Rs.404.55 on reports that the drugmaker was planing to buy Irish pharmaceutical company Pinewood Lab.
Teck index gained 59.56 points to 2919.62, Oil and gas index moved up by 56.88 points at 5646.72, consumer durables by 47.67 points to 3111.48 and FMCG index rose 25.56 points to close at 1992.16.
However, metal index remained weak and closed 1.23 points down at 8228.92.
The BSE smallcap index spurted by 104.90 points to 5975.39 and Midcap index moved up 86.20 points to 5004.86.
