Dalal Street today witnessed the massive rally as Indian benchmark indices gained almost 2.80%, its highest gain in 18 months. Sensex regained the psychological level of 19,000 and ended the day 19,395.81 with 519.86 points gain while Nifty ended at 5,842.20 and jumps around 160 points.
Momentum was led by the hopes that Federal Reserve will not rush to rein in its stimulus measures. Shares in energy companies surged after the government's approval of a hefty increase in gas prices is seen boosting earnings for producers. Government finally approved doubling of natural gas prices to $8.4/mmbtu from April 1 next year.
Among the sectoral indices CNX Infra surged 3.99% followed by CNX Energy (3.76%) and CNX Finance (3.65%). Other all indices also ended in positive terrain.
Out of 50 stocks of Nifty 47 stocks ended in positive zone while 3 stocks ended in negative zone.
Top 5 Nifty gainers: Jindal Steel (7.40%), BHEL (7.33%), Reliance Infrastructure (6.53%), BPCL (6.232%) and Tata Power (6.20%) were among the top gainers of the day.
Top 5 Nifty losers: HCL (-2.81%), Ranbaxy (-2.39%) and HUL (-0.54%) were only index laggards.
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