The Bombay Stock Exchange benchmark Sensex spurted by over 227 points at midsession on Monday on brisk buying by investors in blue-chip stocks amid a firming Asian trend.
The Sensex, which had plunged to two-month low in the previous week, bounced to record a gain of 227.20 points to 19,812.64 at 1230 hrs, backed by stocks of Reliance Industries, Infosys Technologies, Tata Motor and HDFC Ltd..
The broad-based National Stock Exchange index Nifty also rose by 69.70 points to 5,960 at the same time.
The major support to the market came from the Reliance Industries' scrip that rose by Rs 8.55 to Rs 1,005.40, followed by Infosys, which jumped by Rs 52.20 to Rs 3,018.65 a share, Tata Motors by Rs 14.95 to Rs 1,205 and HDFC Ltd by Rs 34.60 to Rs 2,339.25.
According to trade analysts, the recent correction in the stock markets has provided a good entry point for the investors keen on picking fundamentally strong shares.
Besides, they said, better trend in the Asian region further supported the market to record handsome gains.
The Asian stocks rose, sending the MSCI Asia Pacific Index to a one-week high on the hopes that Ireland may apply for a bailout to help save its banks and fund the budget deficit.