Sensex shrugs off US shutdown, up 138 points
2 Oct 2013 4:43 PM GMT
Shrugging off the partial shutdown on US economy and rise in current account deficit (CAD), the S&P BSE benchmark sensex snapped its 2-day losing streak by finishing higher by 138 points to 19,517.15 on fresh buying in Realty, Banking, Capital Goods and Auto sectors on the back of higher global cues.
Auto stocks rose after PSU OMCs reduced petrol price by Rs 3.05 per litre, the first reduction in rates in over five months, while diesel prices were raised by 50 paise a litre.
The Sensex resumed higher at 19,452.05 and hovered in a range of 19,532.91 and 19,264.72 before ending at 19,517.15, showing a gain of 137.38 points or 0.71 per cent from its last close.
The sensex had dropped by 514.08 points of 2.58 per cent in previous two trading days.The National Stock Exchange (NSE) 50-share Nifty also firmed up by 44.75 points or 0.78 per cent to 5,780.05.
High imports of gold and oil pushed CAD to 4.9 per cent of GDP to $21.8 billion in the April-June quarter of the current fiscal, RBI said on Monday. CAD, the difference between inflow and outflow of foreign exchange, was 4.4 per cent or $16.9 billion in the same quarter of last fiscal, 2012-13.
Asian markets ended up as investors awaited a potential shutdown of the US government and a report showed confidence among large Japanese manufacturers increased before Prime Minister Shinzo Abe unveils plans for an economic-support package. Key benchmark indices in Japan, Taiwan, Singapore and South Korea rose between 0.10 per cent and 0.42 per cent.
Auto stocks rose after PSU OMCs reduced petrol price by Rs 3.05 per litre, the first reduction in rates in over five months, while diesel prices were raised by 50 paise a litre.
The Sensex resumed higher at 19,452.05 and hovered in a range of 19,532.91 and 19,264.72 before ending at 19,517.15, showing a gain of 137.38 points or 0.71 per cent from its last close.
The sensex had dropped by 514.08 points of 2.58 per cent in previous two trading days.The National Stock Exchange (NSE) 50-share Nifty also firmed up by 44.75 points or 0.78 per cent to 5,780.05.
High imports of gold and oil pushed CAD to 4.9 per cent of GDP to $21.8 billion in the April-June quarter of the current fiscal, RBI said on Monday. CAD, the difference between inflow and outflow of foreign exchange, was 4.4 per cent or $16.9 billion in the same quarter of last fiscal, 2012-13.
Asian markets ended up as investors awaited a potential shutdown of the US government and a report showed confidence among large Japanese manufacturers increased before Prime Minister Shinzo Abe unveils plans for an economic-support package. Key benchmark indices in Japan, Taiwan, Singapore and South Korea rose between 0.10 per cent and 0.42 per cent.
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