The stock market benchmark Sensex on Wednesday surged by 520 points on heavy buying in banking, realty and metal stocks, as if welcoming Finance Minister Pranab Mukherjee's promise to rope in banks for cheaper credit.
With Wednesday's gain of 520.41 points, the Sensex regained 14,000-point level and ended the day at 14,109.64 points.
The index touched an intra-day high of 14,122.78 points.
The wide-based National Stock Exchange index Nifty spurted by 159.35 points, 3.87 per cent to 4,276.05.
Buying activity gathered momentum in metal stocks on reports of the copper prices climbing in overseas markets, while bank and interest-sensitive construction shares rose after Mukherjee said the government would increase spending in infrastructure and get a commitment from banks for a benign plan of action to ensure cheaper credit.
The rising trend was also supported by brokers indulging in covering their pending positions ahead of the settlements in the derivative segment.
In the 30-BSE index stocks, Reliance Industries rose 2.01 per cent to Rs 2,187.20, Infosys Technologies by 2.68 per cent to Rs 1,584.60, ICICI Bank by 6.59 per cent to Rs 710.55, Sterlite Industries by 9.49 per cent to Rs 591.15 and Larsen and Toubro by 4.51 per cent to Rs 1,311.40.
All the five stocks carry nearly 38 per cent weightage on the Sensex.
