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Mumbai - India's prime stock index, the BSE (Bombay Stock Exchange) Sensex, climbed 1.7 percent or 301.50 points, Monday, to 17,650.57, with 26 components rising, riding on the wave of renewed confidence of investors who are looking forward to a positive budget being announcement by the Central Government.
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On Monday, the Sensex opened up 1 percent at 17,524, but fell as much as 1.2 percent to 17,138, dragged down by weak global cues and concerns over the economic slowdown in the US.
However, a strong rally by Sensex heavyweight, Reliance Industries Ltd (RIL), pulled the Sensex up to a high of 17,674 and helped it to finally settle at a comfortable level.
Reliance Industries, which accounts for about 15 percent of the main index, added 5 percent to Rs.2,551.70 on strong buying by institutional investors.
India's largest private sector bank, the ICICI Bank recovered from early falls to close almost 1 percent up at Rs.1,110.05, while State Bank of India (SBI) ended 0.6 percent up at Rs.2,127.55.
Reliance Power, which made a dismal debut early this month, rose 8.1 percent on Monday to its highest close at Rs.450.40 after the company announced a 3-for-5 bonus share issue to boost shareholders' confidence.
Don't expect the expected from Dibakar Banerjee.
Police in Mumbai said on Sunday they have arrested two men they say were prepari...
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