BSE Sensex surges 371 pts to cross 21,000-mark, Reliance Industries share price jumps on gas price hike

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BSE Sensex soars a day after US Fed taper caused it to drop on quantitative easing start. Reuters BSE Sensex soars a day after US Fed taper caused it to drop on quantitative easing start. Reuters
SummaryBSE Sensex surged as Reliance Industries share price jumped on govt nod to gas price hike.

since May 27 after the government allowed the company to charge higher prices for gas from April.

The move came after the company offered financial guarantees to the government to settle any claims against it over a shortfall in its gas output.

Shares in software services companies gained after Accenture Plc's results. Tata Consultancy Services Ltd gained 1.9 percent, Infosys Ltd rose 1.1 percent, Wipro Ltd jumped 3.7 percent and Tech Mahindra Ltd advanced 2.9 percent. Infosys made a record high at 3,573 rupees and is poised to overtake ITC Ltd as the stock with biggest weighting in the BSE index and the NSE index.

Shares in sugar companies rose after the federal cabinet approved a scheme providing interest-free loans to sugar mills as part of a bail-out package.

Bajaj Hindusthan Ltd rose 2.8 percent, Shree Renuka Sugars Ltd ended higher 1.3 percent and Balrampur Chini Mills Ltd gained 2.2 percent.

Maruti Suzuki India Ltd ended higher 1.6 percent after making a record high at 1.830 rupees earlier in the day on hopes of lower raw material costs of imported parts after the U.S. dollar hit a five-year high against the yen.

However, among stocks that fell, Parsvnath Developers Ltd dropped 1.2 percent on going ex-dividend.

FACTORS TO WATCH

* Dollar buoyant after Fed taper, euro slips on S&P

* Brent holds above $110, set for weekly rise

* Cash crunch fears hit China stocks

Mutual Funds: Top Profit-making Schemes

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