Mumbai: The benchmark Sensex surged by over 122 points on the Bombay Stock Exchange today (Dec 14, 2006) on heavy buying by foreign as well as domestic funds.

The Sensex, which had gained more than 186 points yesterday, shot up by another 122.32 points at 13,303.66 in the first five minutes of trade on funds buying in blue-chip stocks.

Similarly, the wide-based National Stock Exchange, Nifty, was up by 38.30 points at 3,803.50.

Stock brokers said besides increased buying by foreign funds, short-covering by speculators also contributed to the rise in stock prices.

All the BSE-30 index-related stocks were in positive territory with sizeable gains, placing the Sensex notably higher.