Market started the week on a buoyant note as the benchmark indices surged nearly 2.5% in today’s trade. Sensex gained 384 points to close at 17026, while Nifty finished at 5054, up 109 points. BSE Mid-cap and small-cap indices gained 1.2% and 1.1% respectively. Index of Industrial Production number for the month of August came in better than expected at 10.4% as against 7.2% for the previous month. Reliance Communication closed lower by 0.6% after the reports that a government appointed auditor has found inflation of revenues by Rs. 2915 cr. by the company in 2007-08, besides evasion of Rs. 315 cr. in license fee. European markets were up by more than a percent led by banking stocks. US stock indices futures were higher by half a percent. All the BSE sectoral indices finished in green. Consumer Durable index was the top gainer, up 3.7%, followed by IT index, which gained 2.9%. SBI and Reliance Infra were the top gainers among the Sensex stocks, putting on 5.2% and 5% respectively. Hero Honda and Rel Com were the top losers, shedding 0.9% and 0.6% respectively
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