BSE Sensex beats inflation blues to rise 360 points
The 30-share Sensex rallied on Friday to beat inflation worries and rise 2.75 percent.
BSE Sensex falls marginally ahead of national budgetThe benchmark index added 359.89 points to close at 13,454 with 26 components rising, after it touched an intraday high of 13,509.74 and a low of 13,027.79.
For the week, however, the prime index remained down 2.20 percent and is down about 35.75 percent this year.
The biggest gainer of the day was Reliance Communications, which jumped 12.50 percent to close at Rs.389.50 on news that the company was looking to close the deal with South Africa-based MTN Group over the weekend for acquiring its telecom business.
Civil engineering major and flagship company of the Jaypee Group, Jaiprakash Associates was close behind, surging 10.65 percent to close at Rs.138.55.
Engineering and construction major Larsen & Toubro (L&T) rose 6.53 percent to Rs.2234.05 while real estate developer DLF advanced 8.56 percent to Rs.381.85.
Financial stocks Housing Development Finance Corporation (HDFC), ICICI Bank, State Bank of India (SBI) and HDFC Bank soared 6.20 percent, 4.67 percent, 2.36 percent and 1.63 percent to Rs.1935.50, Rs.573.85, Rs.1101.55 and Rs.983.80 respectively.
Auto majors Tata Motors and Mahindra & Mahindra advanced 2.66 percent and 1.66 percent to close at Rs.390.45 and Rs.467.70 respectively.
Top listed Reliance Industries (RIL) added 1.35 percent to close at Rs.2071.10.
Other major gainers were BHEL (up 7.43 percent at Rs.1396.60), Reliance Infrastructure (up 7.21 percent at Rs.721.55), Ranbaxy Laboratories (up 4.75 percent at Rs.514), Ambuja Cements (up 3.89 percent at Rs.71.90), Hindustan Unilever (up 2.62 percent at Rs.196.45), Satyam Computer Services (up 2.42 percent at Rs.451.25), ONGC (up 1.99 percent at Rs.859.20), Hindalco (up 1.69 percent at Rs.135.75) and NTPC (up 1.34 percent at Rs.152.55).
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- 1 Inflation eases to 12.40 percent; "early signs of moderation" seen, says FinMin
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- 3 ONGC upstages China's Sinopec to acquire Imperial Energy for £1.4 billion
- 4 Infosys Technologies buys UK-based Axon for £407.1 million, aims to become leading SAP service provider
- 5 Standard & Poor's launches India Select Index for foreign investors
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- 1 Inflation eases to 12.40 percent; "early signs of moderation" seen, says FinMin
- 2 BSE Sensex sheds 248 points on inflation concerns
- 3 BSE Sensex tumbles 185 points on inflation, oil concerns
- 4 BSE Sensex climbs 32 points on slump in oil prices, ahead of F&O expiry
- 5 Standard & Poor's launches India Select Index for foreign investors
- 6 BSE Sensex ends 49 points higher, investors wary
- 7 BSE Sensex ends up 158 points on short coverings, value buying
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