The Sensex jumped more than 1,000 points in morning trade on 11 November and pushed the Nifty 50 above 25,300.

By 10.37 am the Sensex was up 1,204.24 points at 82,310.89. Markets had been shut on Tuesday for Diwali Balipratipada.

Some of the gains faded. The Sensex closed at 81,879.40 and the Nifty 50 at 25,255.05, both their highest since 26 February.

Investors added about Rs 6 lakh crore to the market value of BSE-listed companies in the first 45 minutes of trade.

Foreign money drove the move. Overseas investors put a net Rs 53,739 crore into Indian shares in the first nine days of November.

That followed two months of selling. They pulled out Rs 34,843 crore in October and Rs 35,861 crore in September.

Cheaper oil helped. Brent crude held near $92 a barrel after slipping below $90 on 10 November for the first time since August.

Earnings gave buyers a reason to stay. Nifty 50 companies posted nearly 24 per cent earnings growth in the second quarter, the best in 12 quarters.

Banks led the way. The Bank Nifty gained about 880 points in early trade to reach 60,624.

Shrikant Chouhan of Kotak Neo advised booking some profit and buying on dips rather than chasing the opening jump.

Geojit's VK Vijayakumar said hotter US inflation, higher Treasury yields and profit booking by domestic institutions could slow the rally a little.

Read the full story on the Sensex rally on Trends News Stories.

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