BSE Sensex surges 365 points, RBI credit policy boosts market sentiments
The Bombay Stock Exchange (BSE) benchmark 30-share sensitivity index, the Sensex jumped 2.13 percent on Tuesday on news that the central bank, the Reserve Bank of India (RBI), has kept key rates unchanged.
The prime index surged 362.50 points to close at 17,378.46 with 26 components ending in the green. During intraday trade, the index touched a high of 17,424.94 and a low of 17,011.60.
The index, which hit a record high of 21,206.77 on Jan. 10, is down about 14.3 percent this year.
The top performer of the day was real estate major DLF which surged 8.57 percent to Rs.725.85.
IT majors Satyam Computer Services, Infosys Technologies, Wipro and TCS soared 8.22 percent, 5.15 percent, 4.70 percent and 3.15 percent to Rs.479.35, Rs.1750.75, Rs.479.20 and Rs.910.80 respectively.
In the financial sector, Housing Development Finance Corporation (HDFC), State Bank of India (SBI) and HDFC Bank advanced 5.95 percent, 3.27 percent and 1.95 percent to Rs.2881.45, Rs.1793.50 and Rs.1547.50 respectively.
Auto majors Maruti Suzuki and Mahindra & Mahindra gained 1.24 percent and 1.17 percent to Rs.731.30 and Rs.642.70 respectively.
Top listed Reliance Industries (RIL) and engineering and construction major Larsen & Toubro (L&T) rose 2.35 percent and 2.09 percent to Rs.2653 and Rs.3007.40 respectively. The two stocks contribute to a quarter of the weight of the index.
Cement manufacturers Ambuja Cements and ACC ended up 1.32 percent and 1.12 percent to Rs.114.85 and Rs.775.35 respectively.
Other major gainers included Hindalco (up 6.44 percent to Rs.198.20), Jaiprakash Associates (up 5.95 percent to Rs.266.10), Tata Steel (up 4.01 percent to Rs.808.90), Hindustan Unilever (up 1.48 percent to Rs.250.85), BHEL (up 1.29 percent to Rs.1891.85) and Ranbaxy Laboratories (up 1.28 percent to Rs.484.85).
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- 1 Infosys Technologies posts 30.2 percent jump in net profit, cuts growth forecast
- 2 Market welcomes RBI's CRR cut but wants more
- 3 Infosys not to raise Axon bid, rival HCL set to make largest overseas IT acquisition
- 4 India govt. moves to rescue domestic market as RBI announces CRR cut, FinMin promises more
- 5 BSE Sensex plunges over 7 percent, closes at its lowest in 27 months
- 6 US President Bush signs historic India-US nuclear agreement into law, 123 Agreement to be signed today
- 7 Ranabaxy shares soar after US government withdraws motion
- 1 World wealth powers pledge to combat credit crisis
- 2 Market welcomes RBI's CRR cut but wants more
- 3 India govt. moves to rescue domestic market as RBI announces CRR cut, FinMin promises more
- 4 BSE Sensex plunges over 7 percent, closes at its lowest in 27 months
- 5 Sensex sinks 367 points, FinMin rushes to the rescue
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- 7 India joins global effort to prevent recession; SEBI eases P-note curbs, RBI cuts CRR after Sensex sinks 725 points
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