Sensex gains 286 points on Greece deal

Bulls were back in action on Dalal Street after two days of selling. European Union-IMF on Thursday greed a bailout deal for debt-ridden Greece which lifted the global financial markets, sending the BSE benchmark sensex up by over 286 points to close at 18,722.30.

Buying was seen across-the-spectrum as 12 of 13 sectoral indices closed in the green with bankex, teck, auto, CG, IT and oil & gas leading the pack. BSE-CD only ended in the red.

The eurozone countries and the International Monetary Fund agreed to give Greece a second bailout worth Euro 109 billion ($155 billion), on top of the Euro 110 billion already granted a year ago, in a bid to avert an out and out default by Athens.

The deal gave a much needed sighs of relief in global markets. US stocks rallied on Thursday as the rescue deal boosted financial stocks that had been battered in recent weeks by fears of a European debt crisis.

The Bombay Stock Exchange 30-share bellwether index started with a big bang and remained in positive terrain throughout the day to settle at 18,722.30, exhibiting a smart rise of 286.11 points or 1.55 per cent.