Sensex gains 420 points; capital goods, auto stocks rally

A benchmark index of Indian equities markets surged 419.68 points or 1.70 percent Monday ahead of Prime Minister-designate Narendra Modi's swearing-in later in the evening as capital goods and auto stocks rallied.

All the sectors were trading in green and the rally was led by capital goods, banking, oil and gas, metal, auto and IT sectors.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 24,913.89 points, was trading at 25,113.03 points in the pre-noon session, up 419.68 points or 1.70 percent from the previous day's close at 24,693.35 points.

The Sensex touched a high of 25,114.36 points and a low of 24,912.57 points in trade.

The S&P BSE capital goods index gained surged 586.67 points, auto index moved up by 419.82 points, bankex increased by 247 points, oil and gas index inched up by 208.54 points, metal index gained 271.03 points and IT index got augmented by 102.26 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also gained 124.90 points or 1.70 percent and was trading at 7,492 points.