Date:10/07/2008 URL: http://www.thehindu.com/2008/07/10/stories/2008071056292000.htm

Business

Sensex surges 615 points

MUMBAI: Amid a fluid political situation, stock markets surged with the benchmark Sensex notching up a healthy over 600 points to close at in the vicinity of 14000 mark level on Wednesday, tracking strong cues in global bourses and downturn in crude prices.

The 30-share Sensex on the Bombay Stock Exchange rallied to a high of 13998.48 during intra-day before concluding the day at 13964.26, a smart rise of 614.61 points against its previous close. Similarly, the 50-issue Nifty of the National Stock Exchange also spurted by 168.55 points to 4157.10.

Marketmen said investor sentiment was also aided by anticipation of economic reforms getting a boost in the wake of Left parties, a strong opponent of reforms, withdrawing support to the UPA Government if it continues in the office. Samajwadi Party submitting a fresh letter to President on its backing the Manmohan Singh ministry also kept the market sentiment firm throughout the day, they added. On global front, Besides, South Korea and Taiwan, most of other Asian markets ended in the green, while European indices displayed a firm trend early morning. — PTI