Sensex jumps 340 points, closes at 10-month high

Sensex jumps 340 points, closes at 10-month high
Times of India, June 11, 2009, Page 19

MUMBAI: The Bombay Stock Exchange benchmark Sensex on Wednesday surged by nearly 340 points to close at a 10-month high as funds remained aggressive buyers on expectations of higher spending in the Budget to boost economic growth.

The 30-share index, gained 339.81 points, or 2.25%, to settle at 15,466.81 points, a level last seen around mid-August 2008. It touched the day's high of 15,580.81 points.

The wide-based National Stock Exchange index Nifty soared by 104.30 points, or 2.29%, to 4,655.25, after touching the day's high of 4,688.95.

Marketmen said that expectations of high spending in the Budget to boost economic growth and the firming global stock markets remained a positive factor for the market.

Stocks in power, capital goods, consumer durables and banking segment were the major supporter to the rally. Metal shares spurted after the base-metal prices firmed up in global metal markets last night.