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The BSE barometer closed the day at 10,683.39, higher by 460.30 points, or 4.5 per cent, from its last close.
The wide-based National Stock Exchange index Nifty also spurted by 112.10 points at 3234.90.
Marketmen said the sentiment was boosted by market regulator SEBI's remarks that it "disapproved" of overseas investor's short-selling equities using offshore derivatives.
They said major players and general investors resorted to buying on expectations that the government might take more market friendly measures. Many also anticipate investor friendly measures by RBI in its monetary policy later this week.
A firming global trend in the backdrop of US officials moving towards a second fiscal stimulus package also played a part, they said.
Consumer durable stocks surged on expectations of sales of household items picking up during the ongoing festival and marriage season. Its index rose by 8.95 per cent at 2271.82, the maximum among all indices. Realty sector index was a close second at 8.32 per cent at 2632.93 points.
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Are the companies themselves buying their own shares from shareholders ? This kind of a money will not be left with ordinary people trading with the share markets now - they have only shares with them having little worth. FIIs have offloaded heavily. What is happening !!!