Rally fuelled by too much hope, 16K possible: Experts
May 30th, 2009
The markets surged ahead on account of the better-than-expected GDP data. The benchmark and broader indices extended their upward trend. Relentless buying in oil and gas stocks on account of possible de-regulation of oil prices, and smart moves in infrastructure, realty, metal, auto, telecom, and technology stocks helped the markets rally and close with triple-digit gains. The Nifty closed at 4,448 up 111 points, while the Sensex shut shop at 14,625 up 329 points.