22 February,2010 10:43 AM IST | | Agencies
The Bombay Stock Exchange benchmark Sensex flared up by a whopping 230 points or 1.42 per cent in early trade on Monday, driven by rallies on the Asian bourses.
The 30-share index, which had lost over 237 points in the past two sessions, recovered by 229.75 points or 1.42 per cent to 16,421.38 points with metals, IT and stocks leading the rally. The wide-based National Stock Exchange index Nifty regained the 4,900-points level by rising 66.60 points, or 1.37 per cent at 4,911.50 points.
Stock brokers said trading sentiments were mainly helped by a strong rally on other Asian bourses after the world markets shrugged off the US discount rate hike.
The BSE metal sector index rose the most with a gain of 2.15 per cent at Rs 16,145.45 with stocks of Hindalco rising 2.70 per cent to Rs 153.80, Hindustan Zinc rose by 3.01 per cent to Rs 1,108, JSW Steel by 2.89 per cent to Rs 1,049.95, Sterlite Industries by 2.48 per cent to Rs 764.35 and Tata Steel by 2.67 per cent to Rs 577.55.
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The Reliance Industries share gained 1.8 per cent to Rs 1,000 on reports that the company has raised its offer for bankrupt petrochemicals maker LyondellBasell.
