Mumbai, November 10
The Bombay Stock Exchange benchmark Sensex today soared by over 570 points to extend the gains to the second straight day, mirroring the trends in in global markets which rallied after China announced a multi-billion package to salvage its economy.
After regaining the 10,000-level in opening trade itself, the 30-share barometer soared further during the day and settled the day at 10,536.16, a rise of 571.87 points or 5.74 per cent from its previous close. The 50-share Nifty of the National Stock Exchange also spurted by 175.25 points, or 5.89 per cent, to close at 3,148.25 points.
The Chinese government yesterday announced a $586-billion stimulus plan to mitigate the impact of global credit crisis and to spur expansion in the world's fourth largest economy, which sparked a strong rally in global markets.
Marketmen said local bourses discounted several estimates of India's GDP growth slowing down as investors made fresh commitments in line with strong global markets.
Brokers said the sentiment was also boosted by a call by economic officials from 20 leading nations for increased government spending to boost the troubled global economy.
— PTI
