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Sensex soars 450 points; Mutual fund industry rubbishes talk of stock valuations being high; more

Nifty ended the November series above 17,500 mark while the Sensex gained above 450 points, propelled by hectic buying in index heavyweight Reliance Industries amid expiry of monthly derivative contracts.

Reversing the previous session's losses, the 30-share index ended 454.10 points or 0.78 per cent higher at 58,795.09. Similarly, the broader NSE Nifty surged 121.20 points or 0.70 per cent to close at 17,536.25.

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Video: Vijay takes oath as Tamil Nadu CM amid loud cheers and chants

TVK leader C Joseph Vijay on Sunday took oath as the Chief Minister of Tamil Nadu amid a sea of supporters, his friends and family, and several political leaders. Eight other TVK leaders were sworn in besides him, as ministers in the new government. Congress leader Rahul Gandhi also attended the ceremony. The TVK managed to secure the Governor's nod to form the government after the Congress, the CPI, the CPI(M), the VCK, and IUML extended their support to the Vijay-led party for a colaition government.