BSE Sensex soars 314 pts as optimism rises over Union Budget, wraps up best quarter in years

Jun 30 2014, 18:51 IST
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BSE Sensex rises about 314 pts to end at 25,413.78. (PTI) BSE Sensex rises about 314 pts to end at 25,413.78. (PTI)
SummaryNSE Nifty rose 1.24 pct on Monday as investors bought shares in recent outperformers...

monthly gain of 4.9 percent.

Outperformers during the quarter led the gains on Monday in what traders described as window dressing, or the buying of shares of top gainers to boost portfolio returns.

Banks, among the top gainers, rose on Monday with State Bank of India rising 1.79 percent, and ICICI Bank Ltd closing 2.42 percent higher.

Power and capital goods stocks, which are widely expected to benefit from reforms in the upcoming budget, also gained. Tata Power Co Ltd closed 3.9 percent higher, while Jaiprakash Power Ventures Ltd gained 8.6 percent.

Larsen and Toubro rose 2.1 percent, while Bharat Heavy Electricals Ltd closed 2.4 percent higher.

Other shares benefited from expectations they may be partly privatised, including Coal India Ltd, which gained 1.1 percent.

Shares of state-run oil marketing companies have also gained after crude oil prices cooled down. Bharat Petroleum Corp closed up 5.4 percent, Hindustan Petroleum Corp gained 4.8 percent, while Indian Oil Corp rose 3.6 percent.

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