Weekly review: Sensex reclaims 10K, soars 12%

The Sensex posted sharp gains last week aided by global rally and heavy bear covering owing to the March futures & options expiry.

The index began the week with a positive gap and build on the gains as week progressed. Metal, realty and metal stocks led the rally this week. The index scaled nearly 1,100-points, reclaiming the 10,000-mark. The Sensex touched a high of 10,127, and finally ended with a solid gap of 12% (1,082 points) at 10,048.

Foreign and local institutions continued to be buyers in the equity markets. As per data available on the Sebi website, the foreign institutional investors bought shares worth Rs 1,312.60 crore in the first three days of the week, and mutual funds bought shares worth Rs 644.40 crore.

Among the index stocks - Tata Steel zoomed 27% to Rs 224. ICICI Bank, HDFC Bank and Sterlite soared 19% each to Rs 385, Rs 997 and Rs 374, respectively.

SBI, Reliance Infrastructure, Tata Motors, Tata Power, Larsen & Toubro, Reliance Communications, Hindalco and Reliance surged 16-18% each. All index stocks ended with gains with a minimum of 3% each.