Sensex surges over 507 points; RIL back in favour

Mumbai, Nov 4 (PTI) Snapping the six-day falling streak,
the Bombay Stock Exchange benchmark Sensex Wednesday spurted
by over 500 points as buying got a big boost after India
Finance Minister Pranab Mukherjee said the government would
not withdraw stimulus measures.

The 30-share Sensex, which had lost 1,405 points in the
past six trading sessions, bounced back to record a notable
gain of 507.19 points to end at 15,912.13 on tremendous buying
support, particularly in blue-chips RIL and Infosys attracted.
In a similar fashion, the wide-based National Stock
Exchange index Nifty surged by 146.90 points, or 3.22 per cent
to 4,710.80.
Brokers said trading sentiment was helped by comments
from Mukherjee, who yesterday after market hours said fiscal
stimulus will continue. World markets edging higher also
helped buying, they added.
"Today's recovery seems to be a technical bounce back
after the recent fall following inflow of disappointing
quarterly corporate earnings,' said BSE broker Rajiv Malik.
He said the finance minister's comments on fiscal stimulus
package also buoyed the sentiment.
In the 30-BSE index stocks, three fell while all other 27
closedwith gains. All sectoral indices led by Realty and metal
remained in positve zone. PTI RS