The Sensex rose sharply on Monday amid firm global cues and closed the day's trade with 472 points gain. Buying picked up in stocks that were battered in recent weeks, supported by positive cues from Asia and reports that European leaders are considering legal means to force debt-ridden euro countries into fiscal discipline.
HOW THE MARKETS FARED
The 30-scrip index of the Bombay Stock Exchange (BSE), which lost 163 points in the previous session and opened at 15,890.8 points, closed with a gain of 471.70 points or 3.01 per cent at 16,167.13 points.
The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended in green - at 4,851.30 points, up 3 per cent or 141.25 points from its previous close.
Broader markets also rose with the BSE 500 index up 2.3 per cent (provisional).
Top gainers: Hindalco (9.20 per cent), Tata Motors (5.36), JP Associates (5.27), HDFC (5.23) and SBI (5.10 per cent).
Top losers: Bajaj Auto (-1.69 per cent) and Hero MotoCorp (-0.69 per cent)
All 13 sectoral indices on the BSE were in the green with metals, banking and energy stocks were among the gainers.
PERSPECTIVE:Will markets see another bloodbath?
Spurred by the trend in Asian markets, the Bombay Stock Exchange benchmark had opened with 232 points gain at 15,927.14 within minutes of the opening bell.
In a similar fashion, the wide-based National Stock Exchange Nifty index moved up by 66.85 points, or 1.42 per cent, to 4,776.90.
Meanwhile, world stocks were boosted on Monday by a robust start to the US holiday shopping season and reports that European leaders are considering legal means to force debt-ridden euro countries into fiscal discipline.
Benchmark oil rose above $99 per barrel and the dollar fell against the euro and the yen.
European stock markets rose in early trading. Britain's FTSE 100 added 1.4 per cent to 5,235.40. Germany's DAX gained 2 per cent to 5,601.80 and France's CAC-40 jumped 2.1 per cent to 2,917.54.
Wall Street also appeared headed for a higher opening, with Dow Jones industrial futures rising 1.6 per cent to 11,370 and S&P 500 futures jumping 2 per cent at 1,176.70.
The gains in Europe tracked those in Asia earlier in the day. Japan's Nikkei 225 index jumped 1.6 per cent to close at 8,287.49. South Korea's Kospi gained 2.2 per cent to 1,815.28 and Hong Kong's Hang Seng rose 2 per cent to 18,037.81. Australia's S&P/ASX 200 added 1.9 per cent to 4,058.20.
- with inputs from agencies