Sensex zooms 329 points

GDP growth figures boost market sentiment and stocks trade

Firming trends in global markets on the back of positive economic data by the US also supported trading sentiment here. The Sensex, which had gained nearly 710 points in the past two sessions, gained another 329.24, or 2.30 per cent to close at 14,625.25 after rising to 14,727.28, a level last seen in September last year.
Similarly, the 50-share National Stock Exchange index Nifty also surged 111.85 points, or 2.58 per cent, at 4,448.95 after touching an intra-day high of 4,488.05 and a low of 4,340.75. The Indian economy grew 6.7 per cent in 2008-09, considered better than expected especially at a time when the global economy is estimated to grow at only 2.6 per cent.
With the sea change in trading sentiment, even non-specified small- and medium-cap stocks were also bought. Among the Sensex stocks, heavy-weight Reliance Industries gained 2.59 per cent at Rs 2,277.50, realty major DLF Ltd surged 8.41 per cent at Rs 403.30, engineering giant Larsen and Toubro was up 4.75 per cent at Rs 1,405.60 and ONGC moved up 3.99 per cent at Rs 1,175.90.
All the sectoral indices except healthcare, led by realty, ended in positive territory. The realty sector index gained the most, rising 6.76 per cent to 3,819.89, as stocks of DLF Ltd surged 8.41 per cent to Rs 403.30, Unitech Ltd 4.59 per cent to Rs 79.75, IndiaBull Real Estate 9.13 per cent to Rs 246.15, Ansal Infra 9.58 per cent to Rs 67.50 and Parsvnath Developers 4.99 per cent to Rs 96.80.
The capital goods index remained the second-best performer, rising 4.13 per cent to 11,921.39, followed by the consumer durables index, which closed 3.55 per cent higher at 2,758.07, auto 3.41 per cent at 4,610.61, oil and gas 3.31 per cent to 10,419.47 and public sector units 3.30 per cent to 4,227.44.
Buying was spread widely as investors and funds purchased small- and mid-cap stocks. The mid-cap index rose 2.46 per cent to 5,056.74 and small-cap index by 3.01 per cent to 5,986.82.

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