The RBI projection of economic growth at a healthy 8.0 to 8.5 per cent for 2008-09 and the Centre’s decision to extend the tax-holiday scheme to export-oriented software technology parks and refineries also enlivened the sentiments

The Sensex on Tuesday, rose by 362.50 points, to 17,378.46, a gain of 2.13 per cent over its last close. The  Nifty also shot up by 105.85 points, or 2.08 per cent, to close at 5,195.50.

Buying activity was widespread across secots and all sectoral indices closed the day firm.

Interest rate sensitive sectors realty and banking saw brisk buying activity with sectoral major DLF soaring  by 8.57 per cent, followed by Unitech at 8.18 per cent. IT and refinery shares too hogged the limelight after the government extended a tax holiday for export-oriented companies.

Global cues

Positive factors, however, failed to trigger any major activity in the small-cap and the mid-cap segments, indices of which moved up by about 1.0 per cent. Among the losers index shares like Grasim tumbled by 6.16 per cent, Bharti Airtel by 2.79 per cent and Reliance Comm by 1.73 per cent. The markets, however, discounted the global cues. Asian and European markets witnessed a narrowly mixed trend.

The market breadth turned strong with 1,588 gainers as against 1,121 losers on the BSE. The trading volume soared to Rs 7,290.22 crore from Rs Rs 5,544.33 crore on Monday. The broad-based Bse-100 index spurted sharply by 197.13 points to 9,240.57 from its previous close of 9,043.44.