Sensex gains 183 pts on fresh buying in refinery, bank stocks

Mumbai, March 12 : The Bombay Stock Exchange benchmark Sensex today gained over 183 points amid investors indulging in catching up with the rise in the US stock markets and inflation declining to over a six-year low.
After the market opened after two holidays, the Sensex surged to 8,439.71 before winding up at 8,343.75, revealing a gain of 183.35 points.

The rally was led by Reliance Industries, Infosys Technologies and ICICI Bank, which carry nearly a 27 per cent weight in the index. Inflation fell to nearly a seven-year low of 2.43 per cent for the week ended February 28.

The 50-share National Stock Exchange index Nifty rose by 44.30 points to 2,617.45, after touching the day's high of 2,646.50 points.

A steep fall in index-linked Bharti Airtel stocks by 6.37 per cent to Rs 550.30, after reports that the company CEO sold his entire holding, trimmed market gains.

A weak opening at the European stock markets this afternoon further checked the upsurge in the domestic stock prices and even reduced gains. PTI