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Sensex soars 443 points on American stimulus

A benchmark index of Indian equities markets closed 443 points higher on Friday following a worldwide rally after the US Federal Reserve announced a new stimulus plan to revive growth in the world's largest economy. The government's decision to hike the diesel price and limit the distribution of subsidised cooking gas also helped stocks move up. Realty, metal and banking were the best performers.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,284.75 points, closed at 18,464.27 points, 443.11 points or 2.46 per cent up from its previous day's close at 18,021.16 points.

The Sensex touched a high of 18,498.54 and a low of 18,284.75 points in intra-day trade. The BSE midcap index was up 54.70 points while the smallcap index was 29.58 points high.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange closed 2.62 per cent up at 5,577.65 points.

On the sectoral front, the BSE realty index was up 74.45 points while metal index was up 422.69 points and banking index was up 485.14 points.


RUPEE AT 2-MONTH HIGH AGAINST DOLLAR


The rupee gained a hefty 71 paise to trade at two-month high of 54.72 against the dollar in early trade today at the Interbank Foreign Exchange as the American currency weakened against euro overseas. Dollar selling by exporters and banks amid a strong opening in the domestic equity market also supported the local unit, forex dealers said.

The government’s decision to hike diesel prices by Rs 5 per litre yesterday, which would help bringing down the fiscal deficit, was another positive factor, they said.

Meanwhile, the BSE benchmark index Sensex climbed 406.45 points, or 2.26 per cent, to 18,427.61.
IANS

IANS

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