Rejuvenated bulls returned from the long weekend with full force taking Sensex back to 50,000 and Nifty regaining 14,800 as Dalal Street saw the biggest rally in almost two months.
Sensex index settled above the 50,000-mark for the first time since March 23 The 50 stock gauge Nifty closed 2.3% higher.
Metals and technology stole the show in trade with steel stocks surging to close as CLSA to JPMorgan remain optimistic on the outlook raising price targets. Technology stocks buoyed by the falling rupee that opened at a 3-week low and cracked to levels of 73.384/dollar.
The stock of the day was new listing Nazara that saw a bumper listing of topping Rs 2000/share in intraday trade vs issue price of Rs 1101/share to finally settle the day at Rs 1,592/share a gain of 44% from issue price.