Market surges on sustained buying

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Market surges on sustained buying
After Monday's dramatic fall, markets surged today on sustained buying from foreign institutional investors (FII) amidst positive global cues. The BSE Sensex gained 285 points to close at 17731 points.  The Nifty too gained ground closing the day higher by 94.30 points at 5375 points.

The Anil Dhirubhai Ambani Group (ADAG) stocks were the star performers today, with Reliance Infrastructure gaining 11%, Reliance Communications gaining 7.34% and Reliance Power gaining 8%.

Other stocks that gained today were infrastructure and capital goods stocks like Jaiprakash Associates and Bharat Heavy Electricals Ltd.

Among the losers today were Cairn India, Wipro, TCS and BPCL. Kingfisher Airlines was up 2.74% on increased optimism that a deal with foreign airlines will be forthcoming and improve the company's liquidity situation.

Cues from the overseas markets were also encouraging and a dip in crude prices also helped improve sentiments.

Read more about: sensex, fii, kingfisher
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