BSE Sensex shrugs off inflation to close 81 points higher
The Bombay Stock Exchange (BSE) Sensex ended up 0.47 percent, Friday, to its highest close in nearly two weeks as investors shrugged off worries even as price of global crude oil touched record high and inflation back home threatened to touch 8 percent.
BSE Sensex falls marginally ahead of national budgetThe benchmark 30-share sensitivity index climbed 81.40 points to 17,434.94, its highest close since May 5, with 18 components ending higher. The index touched a high of 17,497.36 and a low of 17,315.52 during intraday trade.
The index, which hit a record high of 21,206.77 on Jan. 10 and climbed 10.5 percent in April, has closed 4.17 percent higher for the week. However, it is still down nearly 14.20 percent this year.
The best performer of the day was Ranbaxy Laboratories, which rose 3.29 percent to Rs.510.70.
India's No.2 mobile services provider Reliance Communications advanced 2.18 percent to Rs.601.85.
FMCG majors Hindustan Unilever (HUL) and ITC climbed 2.14 percent and 0.18 percent to Rs.243.70 and Rs.226.95 respectively.
Among blue chip financial stocks, HDFC Bank, State Bank of India (SBI) and ICICI Bank jumped 1.77 percent, 1.39 percent and 1.34 percent to Rs.1502.30, Rs.1704 and Rs.941.15 respectively.
Engineering and construction major Larsen & Toubro (L&T) and top listed petrochemical refiner Reliance Industries (RIL) gained 1.14 percent and 0.48 percent to Rs.2996.35 and Rs.2635.20 respectively.
Auto majors Tata Motors and Mahindra & Mahindra ended up 1.07 percent and 0.20 percent to Rs.669.75 and Rs.662 respectively.
Other gainers were Jaiprakash Associates (up 1.69 percent to Rs.270.10), Tata Steel (up 1.02 percent to Rs.890.90), Satyam Computer Services (up 0.88 percent to Rs.488.15), DLF (up 0.83 percent to Rs.649.20), Reliance Infrastructure (up 0.67 percent to Rs.1460.60), Grasim Industries (up 0.51 percent to Rs.2289.80) and ONGC (up 0.06 percent to Rs.950.90).
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