The BSE (Bombay Stock Exchange) Sensex rallied 3.65 percent today and propelled gains to more than 17 percent in April, its best monthly performance in 10 years, as a wave of improved investor confidence swept across the world. Nifty surged 15% from the closing of March series.
The 30-share BSE Sensex shut shop at 11,403.25, with a gain of 401.50 points or 3.65% over previous close, and ended this truncated with a gain of 0.65%. The 50-share NSE Nifty surged 3.32% or 111.60 points, to settle at 3,473.95 and lost 0.2% this week.Leading heavyweights like Reliance Industries, ONGC, Bharti, Infosys, ICICI Bank, NTPC, BHEL, SBI, TCS, Wipro, HUL and HDFC gained 2.5-9%.
Mirroring the changed outlook for Indian equities, foreign institutional investors (FIIs) have enhanced their grip by raising stakes in 157 companies in the January-March quarter. Economic Times reports also suggest that foreign funds led the buying, pumping in more than $1.4 billion in April 1-27, their biggest inflow since October 2007.
Global markets also bounced back in today's trade. At the time of closing of Indian equities, European markets were trading higher. The FTSE went up 45 points, to 4,141. The CAC was trading at 3,094, up 43 points and the DAX rose 48 points, to 4,655.
Among the US futures, the Dow Jones futures were trading at 8,043, up 76 points and the Nasdaq futures went up 12.25 points, to 1,372.75.
The Bombay Stock Exchange (BSE) as well as the National Stock Exchange (NSE) will remain closed on 30 April and 1 May for the Lok Sabha elections and Maharashtra Day, respectively.
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