MUMBAI: The Bombay Stock Exchange Sensex rose to a three-month high on Thursday, adding nearly 447 points ahead of a gathering of world leaders
in London to consider an agenda aimed at tackling the global economic slump.
The Sensex surged on Thursday 446.84 points to 10,348.83, a level last seen on January 6, as funds indulged in buying bluechips led by interest-sensitive realty and metal sectors on expectations of interest rate cuts, completing three days' gains.
The key index moved between 10,432.31 and 10,107.25 points during the day.
The 50-share National Stock Exchange index Nifty spurted by 150.70 points at 3,211.05, after moving between 3,228.75 and 3,061.05 points.
Marketmen said the buoyancy was based on expectations that the G-20 summit of world leaders is likely to ease the worst economic crisis since the 1930s.
Buying activity picked up after US Treasury Secretary Timothy Geithner said global economies showing "traction" amid widening stimulus efforts, they added.
With inflation, despite a small rise, still remaining close to zero, there are expectations of rate cuts by the RBI, something that could boost sales of homes and consumer durables.
The maximum support to the market came from sectors like realty, metal, oil and gas and banking.
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