Sensex surges 485.51 points to end at 26,366.68

MUMBAI: The Sensex surged 485.51 points to end at 26,366.68 on Thursday, thanks to better than expected earnings from some domestic companies and a rise in global crude prices. The Nifty soared 134.75 points to close at 8,069.65. A strong rupee, a forecast of better than average monsoon and the Chabahar port deal with Iran also buoyed sentiment. The barometer 30-scrip Sensex of the BSE was trading at 26,366.68 points (at 3.42 pm) - up 485.51 points or 1.88 per cent from the previous close of 25,881.17 points. "Positive global cues, rise in crude oil prices, and a strong rupee helped the buying momentum to continue," Anand James, chief market strategist at Geojit BNP Paribas Financial Services, told IANS. Larsen & Toubro and Gail India Ltd. reported quarterly profits that exceeded analsyts' expectations. Also, brent crude today surpassed $50 a barrel - for the first time this year - after data showed a fall in US crude inventories. The Sensex has so far touched a high of 26,226.74 points and a low of 25,941.51 points during the intra-day trade. The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up 88.95 points or 1.12 percent, to 8,023.85 points.