A marked rise in liquidity and positive global cues helped the Indian bourse to record a robust gain on Monday, its highest in calendar 2008. Bombay Stock Exchange (BSE), after opening with a positive gap of 253.45 points, posted gains for the second consecutive trading day. The index gained 417.74 points or 2.29% before closing at 18,660.32 points. The broader S&P CNX Nifty closed at 5,468 points, with a net gain of 146.25 points or 2.75%.
More than Rs 1 lakh crore, blocked as application money in two big initial public offerings (IPOs) of Future Capital Holdings and Reliance Power in January, coming back to the market eased the liquidity pressure for market players, dealers said.
Monday?s trading saw interest in sectors battered badly in last two weeks, like realty and IT. The small and mid-cap space also saw huge volumes, indicating a return of retail investors into the space.
Across-the-board buying helped restore the volumes on the stock exchanges, which had dipped since the meltdown on January 22. The overall markets breadth remained positive.
