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Creating history, the benchmark index Sensex on the BSE on Monday posted its biggest ever gain of over 2,100 points in just one-minute trade as investors enthused by a decisive verdict in the just concluded general elections, went into frenzied buying.
Monday's rally is the most significant as the 30-share index journeyed from 12,000 to 14,000 level in just a minutes time with a jump of 1,305 points in 30 seconds in opening trade and another 806 points gain in another 30 seconds after markets resumed trading, triggering the final circuit filter for the day.
"Investors rejoiced the coming of a stable government in power. Bulls got encouraged as investors were screaming to buy in apprehension that stability will come in the economic policies," brokerage firm Unicorn Financial CEO G Nagpal said.
Another analyst with a leading brokerage house said domestic and foreign investors who were waiting on the sidelines due to the uncertainty in the markets rushed in to cash in on the big victory of the Congress-led UPA government in the general elections.
Following are the biggest ever single-day gains made by the Sensex so far.
|
Date |
Points |
|
May 18, 2009 |
2,110.79 points |
|
January 25, 2008 |
1,139.92 points |
|
March 25, 2008 |
928 points |
|
November 14, 2007 |
893.58 points |
|
October 23, 2007 |
878.85 points |
|
January 23, 2008 |
864.13 points |
|
July 23, 2008 |
838.08 points |
|
October 31, 2008 |
743.55 points |
|
May 4, 2009 |
731 points |
Earlier, the BSE Sensex had recorded the biggest single day gain of 1,139.92 points or 6.6 per cent on January 25, 2008, to 18,361.66.
Some of the biggest single day gains of Sensex so far are a 928 points jump on March 25, 2008, 893.58 points surge on November 14 2007, a 878.85 points surge on October 23, 2007.
Other major single day gain for the bellwether index were 864.13 points on January 23, 2008, 838.08 points on July 23, 2008 and 743.55 points on October 31, 2008.
Marketmen cheered Monday's gain and termed it as a "magic Monday" for the Indian stock market as the benchmark index Sensex registered its biggest ever single day gain of 2,111 points and also hit the upper circuit limit twice in a single trading session.
The decisive win by the ruling government in the general elections gave such a boost to the market that the 30-share bellwether index surged over 17.34 per cent or 2,110.79 points in a single trading session.