Bombay stocks surged Monday to their biggest-ever one-day gain, picking up 2.5% to set another new high.
The BSE Sensex rose 284 points to close at 11,564, as foreign institutional investors poured cash into one of the world's hottest markets. The Sensex gained 3% last week and is up 75% over the last year. Monday's gains added to strong performances in other Asian markets, led by 1.6% jumps in Japan's Nikkei and Hong Kong's Hang Seng.
Cement and pharma stocks led the rally, along with information technology titan
. It shot up 5.5%, while carmaker
moved up 4.3% and chemical giant
Pharma stocks were in the limelight, with
rising 3.7% and
each adding 1.9%. Cement makers rose as well, with
up 2.4% and
ahead by 1.7%.
was the only loser today on the BSE Sensex.
rose 4.1% on news that several international industry majors have approached the company for a strategic tie-up with Reliance Petroleum.
gained 4.1% on the news that the company has been awarded a contract from the National Highways Authority in New Delhi.
Dolphin Offshore Enterprises
shot up 10% on reports that the company is teaming up with NaftoGaz on offshore platforms and pipelines.
Helios & Matheson
gained 5% after it acquired a controlling stake in A Consulting Team.
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