Sensex surges 75 points, oil prices fall in global markets

The Bombay Stock Exchange (BSE) Sensex surged 75.07 points to a new 44-month closing high today as stocks jumped and oil prices fell in global markets following the capture of Saddam Hussein.

The Sensex gained 1.41 per cent to close at 5,390.88 points, its best since April 12, 2000. The index has gained 5.1 per cent in the last five days. On the National Stock Exchange (NSE), the S&P CNX Nifty gained 25.05 points at 1,723.95.

Today's rally was led by technology stocks, which are expected to gain from a stronger dollar. The Satyam Computer scrip gained 5.23 per cent at Rs 361.15, off its new 52-week high of Rs 363.30 in intra-day trades today.

The Wipro scrip surged 3.81 per cent to Rs 1,668.50 and Infosys Technologies climbed 2.25 per cent to Rs 5,154.95. Media major Zee Telefilms vaulted 3.65 per cent to Rs 143.40 on news that the company's board will meet to consider a restructuring proposal.

Buying interest was spread across the board, with gainers outnumbering losers three to one in brisk trades. Elsewhere, old economy companies were driven up on hopes of robust growth in the current quarter earnings.