The short covering Sensex jumped 514 points to 59005

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(Gujarat News Correspondent) MUMBAI: Global mega-real estate developer Evergrand reportedly went bankrupt yesterday, with Indian stock markets also eroding, followed by shortfall in IT-software services, led by metal-mining stocks. The chairman of EverGrande expressed confidence that the company would emerge from its crisis. With this the U.S. Funds rallied in metal-mining stocks ahead of a two-day meeting of the Federal Reserve, with estimates that stimulus tapping will not be immediate and expectations of a recovery in the global economy. Following these reports, the Sensex was up 216.5 points at 5,004.5 and the Nifty spot was up 19.10 points at 17 points.

Funds rebound: Sensex jumps 216 points

Trading started strong today. The Sensex opened at 20.05 against the previous close of 30.8, and the attraction of funds' finance-banking heavyweights from the outset rose to 202.31 at one point, ending at 313.5 points and closing at 2009.5.

Nifty spot jumped to 1200 level again

The Nifty spot on the NSE opened at 120.50 against the previous close of 12.50 and initially fell as a precautionary measure to 16.10.

Bank Nifty futures rise from 200 to 215

Nifty-based funds in derivatives were down today with short covering. The Nifty September futures opened at 14 points against 16.5, fell to 14.50 and reached 13.5 at 13.05. Bank Nifty opened at 200 against the September Future 6.5, rose to a low of 202.5 and reached a high of 715.70 at the end.

IT index rises 202 points: Nelco, L&T rise

The BSE IT index jumped 206.15 points to close at 313.8 on the back of KP-Big Bull's sharp rise in IT-software services stocks. MindTree jumped Rs 2.50 to Rs 30, Nelco jumped Rs 2.50 to Rs 21.5, L&T Infotech rose Rs 150.50 to Rs 4.5, L&T Technology rose Rs 16.50. Infosys rose by Rs 4.5 to Rs 1,412.50, TCS by Rs 21.50 to Rs 4.5, Wipro by Rs 4.5 to Rs 2.50.

China's Evergrande reassures metal stocks to rebound

Funds rallied today with short covering in metal-mining stocks, with a recovery in global markets, including China, as Chinese sinking realty company Evergrande assured itself of coming out of the crisis. The BSE Metal Index rose by 200.5 points to close at 12.5. JSW Steel rose by Rs 2.50 to Rs 2.50, Sail by Rs 4.5 to Rs 111.5, Tata Steel by Rs 4.5 to Rs 15, Hindalco by Rs 4.5 to Rs 21. 06 were living.

Investors' asset-market capitalization rises by Rs 1.50 lakh crore to Rs 4.5 lakh crore

The accumulated market capitalization of companies listed on the BSE-investors' wealth rose by Rs 1.50 lakh crore to Rs 4.5 lakh crore in a single day today as funds rose sharply in stocks.

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