Sensex soars 218 pts to close at eight-week high
March 16, 2010
The 30-share index shot up by 218.19 points to 17,383.18 points, matching with the levels seen on January 20.
RIL surged by 3.8 per cent to Rs 1,066.80 on speculation that its profitability will improve. The company paid Rs 770 crore advance tax for the fourth quarter.
Another blue-chip Infosys rose by Rs 31.15 to Rs 2,732.35.
Brokers said expectations of better fourth quarter results after reports of big corporate such as SBI, Indian Oil and LIC paying higher advance tax lifted the sentiment.
A firm opening in Europe ahead of the US Federal Reserve meeting tonight, also supported the market sentiment in the last 30 minutes of trading.
In 30 stock related counters, 25 gained while five closed with losses.