The Bombay Stock Exchange benchmark Sensex on Monday surged by almost 280 points in opening trade on Ambani brothers dumping their differences to take a step towards reconciliation in their long-running feud.
The 30-share index, which lost 74.07 points in the previous trading session, shot up by 279.30 points, or 1.69 per cent to 16,724.91 in the opening trade.
The wide-based National Stock Exchange index Nifty regained the 5,000-points level by rising 89.50 points, or 1.81 per cent, to 5,020.65 points.
Brokers said trading sentiment turned better after the Ambani brothers agreed to cancel existing non-compete agreements, triggering widespread buying, led by Reliance Industries stocks.
Besides, weekend rally on the US markets, which edged 1.35 per cent higher, also influenced the sentiment, they added.
Stocks of heavyweight Reliance Industries turned bullish and recorded a rise of 3.64 per cent to Rs 1,032, while that of RNRL shot up 21.17 per cent to 53.90. Reliance Infra gathered 7.40 per cent to Rs 1,061.60.
Rcom shot up 4.84 per cent to Rs 139.85, Infosys Technologies by 0.03 per cent to Rs 2,587, Sterlite Industries by 1.59 per cent to Rs 651.95, Tata Motors by 2.77 per cent to Rs 730 and Tata Steel by 2.01 per cent to Rs 519.65.
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