BSE Sensex climbs 74 points ahead of RBI meet
The Bombay Stock Exchange (BSE) Sensex climbed 0.52 percent on Monday as investors shed aside fears of terror attacks and braced for the central bank's quarterly policy review on Tuesday when Reserve Bank of India (RBI) is expected to hike key interest rates.
BSE Sensex falls marginally ahead of national budgetThe 30-share sensitivity index rose 74.17 points to close at 14,349.11 with 13 components rising. The index opened at 14,421.61 and fell to a low of 14,219.38 during choppy morning trade but rallied towards the latter half of the day to rise to a high of 14,421.61 before ending at 14,349.11.
The index, which hit a record high of 21,206.77 on Jan. 10, is still down about 25.5 percent this year.
The top gainer of the day was engineering and construction major Larsen & Toubro (L&T), which surged 3.73 percent to close at Rs.2723.55. L&T reported 33 percent jump in net profit for the fiscal quarter ended June 30, 2008.
Close on its heels was Tata Power, which surged 3.56 percent to close at Rs.1051.60.
Tech stocks Tata Consultancy Services (TCS) and Wipro advanced 1.01 percent and 0.25 percent to close at Rs.806.05 and Rs.407.30 respectively.
Real estate giant DLF soared 1.77 percent to close at Rs.499.45 while top listed Reliance Industries ended up 1.48 percent at Rs.2179.10.
Other gainers were ACC (up 3.34 percent at Rs.593.45), ONGC (up 3 percent at 1012.50), Ranbaxy Laboratories (up 2.60 percent at Rs.493.75), Reliance Communications (up 1.82 percent at Rs.512.25), ICICI Bank (up 1 percent at Rs.663.45), ITC (up 0.93 percent at Rs.190.50) and Reliance Infrastructure (up 0.24 percent at Rs.987.05).
Sterlite Industries, which replaced Ambuja Cements on the barometer on Monday, was the biggest loser of the day, plunging 3.47 percent to close at Rs.582.25.
Financial stocks State Bank of India (SBI), HDFC Bank and Housing Development Finance Corporation slipped 2.12 percent, 0.01 percent and 0.00 percent to close at Rs.1418.05, Rs.1127.05 and Rs.2221.45 respectively as investors braced for RBI's quarterly policy review on Tuesday when it is expected to hike key interest rates.
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