Sensex closes 16k level first time this year

The wide-based National Stock Exchange index Nifty soared by 102.50 points to 4,782.90 points.

The rally was backed by steep rise in stocks of realty, metal and banking segments on reports that shortage of monsoon rainfall might ease, improving the outlook of farm production and boosting buying in rural parts of the country.

The fag-end surge was mostly attributed to higher opening in European stock markets this afternoon.

Among the Sens*x shares, 28 scrips closed with gains while ITC Ltd and Mahindra and Mahindra ended with losses.

Infosys Technologies, Reliance Industries, ICICI Bank, RCom, DLF Ltd, Tata Motors and Tata Steel were the major gainers and helped Sens*x rise above 16,000 points level.