Sensex perks up on rising market expectations

Growing optimism about pro-industry steps by the government and steady economic growth lifted the benchmark Sensex to nearly a nine-month high of 14,840.63 on Saturday as the upbeat mood gathered momentum on Indian bourses.
    
Despite the fall in exports for the seventh consecutive month, investors stayed enthusiastic with signs of recovery in economy with prospects of growth in manufacturing.
    
Market sentiment was also boosted by strong global cues and sustained capital inflows into equity.
    
The Bombay Stock Exchange 30-share barometer settled the day at 14,840.63, netting a rise of 215.38 points or 1.47 per cent from its previous close.
    
Brokers said the market remained upbeat on strong optimism that the post-election political stability will lead to pro-industry proposals and faster economic reforms in the forthcoming full-budget, to be presented early next month.
    
SMC Global Vice-President Rajesh Jain said: "The market was quite strong today ... Overall the trend in the market is positive and the US futures markets are also trading in the positive terrain despite news of GM filing for bankruptcy."
    
The broader 50-share Nifty of the National Stock Exchange also gained 80.95 points or 1.82 per cent to close at 4,529.90 from its last close.