Taking cues from the Asian markets and the Wall Street rally on Friday, the Sensex opened with a huge positive gap of 156 points at 14,581 on Monday.

The index zoomed to a high of 14,859 in late noon deals -- a gain of 434 points from the previous close of 14,425.

The Sensex finally closed with a gain of 417 points (2.9 per cent) at 14,842.  The NSE Nifty ended at 4,302, up 112 points.

The BSE Realty index zoomed over 5% to 7147. The BSE Bankex gained nearly 5% to 7655.

The broad market mood was bullish right through the day - out of 2,717 scrips traded, 2,063 logged gains on Monday.

Gainers All The Way

SBI [Get Quote] opened on a firm note on the news over the weekend that the bank board has started the process of amalgamation of subsidiary banks with Bank of Saurashtra, the smallest associate bank, being merged with SBI.

SBI zoomed to a high of Rs 1,565 in late noon deals before closing with a gain of over 6% (Rs 90) at Rs 1,557.

ICICI Bank [Get Quote] gained nearly 6% to close at Rs 884.

Reliance [Get Quote] advanced over 3% (Rs 58) to Rs 1,833.

Maruti [Get Quote] zoomed over 5% to Rs 831. Tata Motors [Get Quote], M&M and Bajaj also finished with gains.

RCom gained over 4% to Rs 521. Hindalco [Get Quote] was up over 4% at Rs 148.

L&T and BHEL added 3.7% each to close at Rs 2,535 and Rs 1,815, respectively.

Most Active Counters

Debutant Take Solutions was the most active counter with a turnover of Rs 505 crore followed by SEL Manufacturing (Rs 295 crore), Reliance (Rs 120 crore), SBI (Rs 111 crore) and ICICI Bank (Rs 105 crore).