Mumbai, July 03: Trading sentiment turned bullish on the Bombay Stock Exchange today as the benchmark Sensex surged over 254 points following a soft Rail Budget amid brokers covering short positions late in the day.
The Sensex, which remained range-bound in early trade, shot up by 254.56, or 1.74 per cent, to 14,913.05 as stocks of companies catering for the railways extended gains after the Railway Budget kept freight rates unchanged. The key index touched a high of 14,945.85 points.
Similarly, the 50-stock National Stock Exchange index Nifty shot up 75.40 points, 1.73 per cent, to 4,424.25, after touching the day’s high of 4,434.45.
Major support to the market came from banking, heavy machinery, power, healthcare and realty stocks.
Shares of firms serving the railways gained after the railway minister said private operations of freight terminals will be encouraged. Container Corporation surged 4 per cent to Rs 1,010.
–PTI