Sensex surges 400 points, goes past 14,000-mark (Roundup)

Enthused by strong European and Asian markets and renewed buying interest among investors, a key index of the Indian equities markets soared towards closing bell Wednesday, ending the day almost 400 points higher than its previous close.

The 30-scrip benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened at 13,917.27 points, gained 399.54 points or 2.88 percent to 14,253.24 points.

The Nifty of the National Stock Exchange (NSE) similarly closed 2.97 percent higher at 4,233.5 points.

Broader market indices did better, with the BSE midcap index closing 4.15 percent up and the BSE smallcap index ending 4.56 percent higher.

All the 13 sectoral indices on the BSE ended in the green, with those for realty, metal and consumer durables gaining the most.

The market breadth was positive with 2,038 stocks advancing compared to 557 declining. Eighty-nine remained unchanged.

All but one of the stocks ended on the Sensex gainers list. Among those in the green were Hindalco, up 8.22 percent at Rs.79.65; Jaiprakash Associates, up 7.74 percent at Rs.206.10; DLF, up 7.18 percent at Rs.321.65; and Hero Honda, up 6.44 percent at Rs.1,492.05.

The sole loser was Infosys, down 0.85 percent at Rs.1,790.95.

Data with the market watchdog, Securities and Exchange Board of India (SEBI), showed that foreign funds were net buyers, lapping up scrips worth $92.7 million Wednesday.

In other Asian markets, the Nikkei 225 Stock Average, a key index of the Tokyo Stock Exchange, closed flat Wednesday at 9,269.25 points, up 7.4 points.

The Hang Seng, the primary index of the Hong Kong Stock Exchange, ended at 18,258.66 points, up 372.93 points.

European markets, which opened on a firm footing and were trading in the green with the FTSE 100, a key British index, ruling 65.66 points up at 4,303.34 points, while its French peer CAC 40 was ruling 51.1 points higher at 3,132.97 points.

Backed by strong results of semiconductor major Intel, key US market indices futures surged with investors hoping that an economic recovery may not be as distant as predicted earlier.

While the Dow Jones Industrial Average futures rose 88 points, the Standard and Poor's 500 index future was up 11.3 points. The technology-scrip heavy Nasdaq futures added 26.75 points.

Last updated on Jul 15^th, 2009 at 17:57 pm IST--IANS