Markets shut for the day after hitting upper circuit again

Trading at BSE, NSE had been suspended within a minute of the opening bell, after key indices touched the upper circuit prompting stock exchanges to pull down the shutter for two hours.

The 30-share Bombay Stock Exchange Sensex zoomed 1,305.97 points or 10.73 per cent at 13,479.39, while the National Stock Exchange 50-share Nifty increased 600 points or 14.48 per cent at 4,271.40.

All the major sector-indices were in the positive zone.

It is for the first time that the Sensex has hit the upper circuit of 10 per cent.

Analysts said the victory of United Progressive Alliance (UPA) announced Saturday, in the general elections, had led to the rally, which breached the ''circuit breaker" kept to ensure the market doesn't move up and down too quickly and too much, according to the BSE website.
 
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), had risen 17.24 percent or 2099.21 points from its previous close of 12,173.42 points before trade was finally halted at 14,272.63 points.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) also hit the upper circuit rising 17.33 percent or 636.4 points to 4,308.05 points. It closed Friday at 3,671.65 points.