Mumbai: The BSE Sensex on Monday surged by 376 pts to 39,230.16 in opening trade as buying was seen across the border.
Especially, Realty, Consumer Durable and IT stocks boosted the same. The Nifty of National Stock Exchange too rose by 76.95 pts to 11,541.40.
The Mid cap and Small-cap stocks are to be strong after the regulator tweaked rules for multi-cap mutual funds, a move analysts say could push about 400 billion rupees ($5.4 billion) to the broader market.
Multi-cap funds must hold at least 75 per cent of their assets in equities — up from 65 per cent at present — with 25 per cent each in large, medium and smaller companies to ensure they stick to their mandate of investing in a wide set of stocks, the Securities & Exchange Board of India (SEBI) said in a circular late Friday.
The Sensex registered intra days high and low at 39,230.16 and 39,073.51 pts respectively. The Nifty registered intra days high and low at 11,563.35 and 11,528.55 respectively.
The Mid Cap moved up by 1.58 pc and Small Cap by 3.23 pc. In 30 scrips, 20 advanced while 10 declined.
The gainers were HCL Technologies by 6.22 pc to Rs 765.90, Tech Mahindra by 2.56 pc to Rs 784.55, TCS by 1.82 pc to Rs 2417, Reliance Industries by 1.53 pc to Rs 2354.40 and Infosys by 1.17 pc to Rs 956.45.
The losers were Maruti Suzuki by 0.89 pc to Rs 7125.90, Bajaj finance by 0.73 pc to Rs 3517.60, Hind Unilever by 0.70 pc to Rs 2144.05 and Asian Paints by 0.69 pc to Rs 2021.15.