Sensex rallies 154 pts on FM’s growth byte
Buying in metal, auto, consumer durable and pharma counters helped the benchmark S&P BSE sensex to rally for the second session in a row by 154 points to end at 27,395.73 amid mixed to positive global trends and renewed buying by foreign funds.
A statement given by the Finance Minister Arun Jaitley that the economy is expected to grow "much better" in 2015-16 as compared with the current financial year also aided the sentiment. The Indian economy grew by 5.3 per cent in the September quarter from a year earlier, and is expected to grow 5.5 per cent in the current financial year that ends on March 31. Buying was seen across-the-board as 11 out of 12 sectoral indices closed with gains while only bankex finished with minor losses.
Smart rise in Tata Motors, HDFC, RIL, ITC, TCS, SSLT, Sun Pharma, Hero MotoCorp, Hindalco, HUL, Coal India, Tata Steel, Gail India and BHEL mainly supported the sensex rise.
Meanwhile, extending losses for the fourth straight session, rupee on Monday declined by 10 paise to log over 13-month closing low of 63.67 against the Greenback following sustained dollar demand from importers.