Mumbai: After a month-long bearish phase, the benchmark Sensex surged by more than 1,000 points in a record time of less than six hours of trading on Friday.
The Sensex closed at 9,884 points, up 339 points, whereas Nifty surged by 91 points and closed at 2,890 adding over 250 points during the weekend.
All the BSE sectoral indices closed in green, major gainers on the indices were Tata Steel, Satyam, TCS, Bharti Airtel and HLL.
The market breadth remained positive as about 1,979 shares advanced, 363 shares declined, and 41 shares remained unchanged.
There were no losers on the Sensex and the Nifty. Tata Steel, Satyam, TCS, HDFC Bank and ABB were top gainers on the indices.
Sensex once again captured the psychological support level of 10,000 points after a fastest ever 1,100-point rally in just two days bringing back cheers for investors after the recent meltdown.
A 615-point jump on Thursday was the biggest single-day gain in the history of BSE, while the barometer index recorded an intraday gain of more than 450 points early in the morning trade.
Bullish sentiments were seen across the board with all the BSE sectoral indices trading with robust gains.
All the BSE 100 scrips were also seen trading in the positive territory, while there was just one BSE 200 stock, trading in the red.
The overall market breadth was also strong with 84 per cent of all the BSE stocks trading with gains as against just 14 per cent trading in the red.
The market staged a smart upward move as foreign funds joined buying in almost all Asian region influenced by Japan's central bank decision to defer a hike in interest rates amid reports of similar feeling at the US Fed.
The Sensex, which went below 10,000 points on June 6 as the market came in full bear control, in the absence of foreign funds, regained strength in previous day's trade and commenced fresh upward journey.
Aggressive buying in foreign funds boosted the trading sentiment among small and medium term investors.
Profound recovery in the Futures and Options (F&O) segment witnessed in the last two days, coupled with a sharp rally in global equity and commodity markets, provided the required trigger for the market.
The Dow Jones Industrial Average notched its second straight triple-digit point gain, rising by 198.27 points and the NASDAQ Composite Index advanced by 2.8 per cent or 58.15 points.
Similarly, in Asian markets, the Nikkei spurted by over 473 points, the Taiwan Index by 133 points and the Kospi by 40 points during morning trading.
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