Sensex jumps 218 pts in opening trade

The Bombay Stock Exchange (^BSESN : 16632.01 -222.92) benchmark Sensex rose by 218 points in opening trade on Wednesday on buying by funds and retail investors after Finance Minister Pranab Mukherjee ruled out withdrawal of stimulus packages.

The 30-share index rose by 218.29 points, or 1.41 per cent, to 15,623.23 points with all the sectoral indices gaining up to 2.82 per cent. The BSE barometer had lost over 1,405 points, or 8.5 per cent, in the previous six sessions to hit two-month lows.

The wide-based National Stock Exchange (^NSEI : 4941.75 -63.8) index Nifty moved up by 64.10 points, or 1.40 per cent, to 4,628.00 points.

Brokers said sentiments turned better after Mukhejee ruled out withdrawal of stimulus packages till the economic recovery is on a strong footing.

Besides, firming trends on other Asian bourses, which rose up to 1.67 per cent in the morning trade, also buoyed the trading sentiments here, they said.

Among major gainers, Reliance Industries (RELIANCE.NS : 1045.95 -17.8) jumped by 3.38 per cent to Rs 1,882.20, Infosys Technologies (INFOSYS.BO : 2328.3 -58.55) by 2.32 per cent to Rs 2,189, Sterlite Industries by 2.47 per cent to Rs 740, Tata Steel (TATASTL.BO : 544.9 +1.45) by 0.43 per cent to Rs 447.50 and DLF Ltd by 2.96 per cent to Rs 346.50.