Trading halted for day as markets leap over 17 per cent

Mumbai, May 18: The bulls smelt blood and a stable government at the Centre today as the key indices BSE Sensex and NSE Nifty took a giant leap by over 17 per cent each, following which trading on the stock markets was halted for the day.
This is the first time that trading got halted within seconds of the opening bells with the Sensex and Nifty soaring by 15 per cent and again by more than 2.0 per cent after the market re-opened at 1155 hours.

The Bombay Stock Exchange 30-share index settled the day at 14,284.21, a net jump of 2,110.79 points or 17.34 per cent over its previous close.

The National Stock Exchange's Nifty soared to 4,323.15, a gain of 651.50 points or 17.74 per cent from its last close.

Brokers said investors were strongly optimistic about consistent and substantial increase in capital inflows in the future as economic reforms are likely to get priority after Manmohan Singh becomes Prime Minister for a second term in the new government without Left support.

Investors were upbeat following a clear mandate for the Congress-led United Progress Alliance, which would be able to put economic reforms on a fast track. PTI