Positive domestic and global cues pushed Sensex to the best closing mark in 2009, which was also its highest point in 15 months.
The index gained 2.09 per cent on Monday at 16,016.32 points, which is its highest closing point, going as far back as June 2, 2008. In fact, Sensex has almost doubled since it hit the year's low in March. For the current year, it is up 66 per cent.
More than the numerical addition to the indices, what has become of even greater value, according to traders, is the long and sustained rise to this high point, with hardly any blip in between. It also signifies a positive long-term investor sentiment, especially as the Oil India IPO today was subscribed with alacrity, within just 30 minutes of opening.
Sensex ended the day with a gain of 327.20 points or 2.09 per cent after touching an intra-day high of 16,035.50 (low was 15793.27 points).
On the National Stock Exchange Nifty ended the day up by 102.5 points, a gain of 2.19 per cent, to close at 4,782.90 points. Its high point was 4,790 points while the low that it registered was 4,679.30 points.
The star performers during the day were mostly from the mid- and small-cap space, with the BSE Midcap index itself up 2.31 per cent and BSE Smallcap index up by 2.83 per cent.
Tata Motors hit the upper circuit after gaining as much as 11 per cent and Reliance Com was up 6.6 per cent Among the other biggies to break into new territory were ICICI Bank and Jaipraksah Asso., up 6 per cent each, while Sterlite and DLF gained in excess of 5 per cent and Bharti Airtel, up 3.8 per cent.
Among the positive global cues that aided the rally in India were the fall in the rate of unemployment in the US. Japan's Nikkei gained in excess of 1 per cent, while European markets were also in the green.