BSE Sensex soars 451.32 points to end at nearly two-week high of 20,850

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The benchmark BSE Sensex rose 2.21 percent, or 451.32 points, to end at 20,850.74, marking its biggest single-day gain since Oct. 18. PTI The benchmark BSE Sensex rose 2.21 percent, or 451.32 points, to end at 20,850.74, marking its biggest single-day gain since Oct. 18. PTI
SummaryBSE Sensex and NSE Nifty marked their biggest single-day gain since Oct. 18.

markets, cheered by the prospect of extended stimulus in the US and real economic reform in China.

World shares hit a near six-year high on Monday, boosted by signs of ambitious economic reform in China and after Janet Yellen, expected to be the next Federal Reserve chief, sounded in no rush to scale back stimulus.

Traders say liquidity would keep sceptics and economic worries aside for the time being. UBS downgraded India to "neutral" while upgrading China to "overweight", saying Plenum reforms will likely cause China to outperform Asia ex-Japan.

Overseas institutional investors are heading towards their third straight month of buying in Indian cash shares, totalling more than $5 billion since August, exchange and regulatory data shows.

"Earnings season had been more of good than bad. We are looking to accumulate good stocks at lower levels as liquidity and global sentiment remains good," said .

The benchmark BSE Sensex rose 2.21 percent, or 451.32 points, to end at 20,850.74, marking its biggest single-day gain since Oct. 18.

The broader NSE Nifty rose 2.19 percent, or 132.85 points, to end at 6,189, closing within 11 points of psychologically important 6,200 level.

Among blue-chip shares, Larsen and Toubro Ltd rose 4.1 percent while Reliance Industries Ltd ended 2.7 percent higher, on improving global risk appetite.

Shares in cigarette maker ITC Ltd surged 3.7 percent on unwinding of short positions in its November futures contracts, dealers said.

Bank stocks gained with bond yields on watch ahead of the Reserve Bank of India's 80 billion rupees bond purchases later in the day.

HDFC Bank Ltd rose 4.1 percent while ICICI Bank Ltd gained 2.1 percent. Among state-owned banks, State Bank of India rose 2.6 percent while Bank of India surged 7.9 percent.

Tata Steel Ltd shares rose 3.1 percent, adding to Thursday's 4.9 percent gain after the company's second-quarter profit beat expectations, helped by a rise in prices and market share at home.

However, among stocks that fell, Coal India Ltd shares fell 1.4 percent, adding to Thursday's 3.7 percent fall after its September quarter profit fell marginally

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