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Sensex gains over 500 points

May 27, 2009

INDIAThe Sensex jumped over 500 points today to close above the 14,100 mark, recovering all of Tuesday’s losses, on investor optimism about a recovery in the global economy.

The rally was led by heavyweight counters like ICICI, ONGC and Reliance Industries.

Reliance Infrastructure, which ended 14.7 percent higher, was the top gainer among the Sensex components. It was followed by Sterlite Industries and ONGC, both gaining over 9 percent.

Bharti Airtel ended marginally lower and extended its losses for a third consecutive session.

The realty and banking sectors were the front-runners in the sectoral space, ending 6 percent and 5.4 percent higher respectively. All sectors managed to register decent gains.

Some mid-cap stocks that surged included IPCA Labs (up 15.13 percent), Television Eighteen (up 14.4 percent) and India Infoline (up 12.2 percent).

With derivatives expiry tomorrow, do you think the market can sustain this rally?

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