SENSEX SURGES 219 POINTS ON RATE CUT
DATE: 17/04/2012
Indian benchmark indices, the Sensex and Nifty, rose over 1.2 per cent at the end of the session today amid firm European cues.
The cut in repo rate by 50 basis points from 8.5 per cent to 8.00 per cent by the Reserve Bank of Indian buoyed the domestic sentiment.
At 3.30 p.m., the 30-share BSE index Sensex was up 219.38 points or 1.28 per cent at 17,370.33 and the 50-share NSE index Nifty was up 68.1 points or 1.3 per cent at 5,294.30.
Volume toppers during the session were SBI, ICICI Bank, Infosys, Tata Motors and L&T. Among the 30-share Sensex, Coal India, ONGC, Hindalco, Hero Motocorp and DLF were the top performers. Maruti, M&M and RIL were the major losers.
The closing session trade was led by realty, metal, PSU and capital goods stocks with each up by over 1.6 per cent.
European stocks gained as demand increased at a Spanish debt sale and German investor confidence topped forecasts.
However, most of the Asian stocks declined due to a drop in foreign direct investments into China for the fifth month, analysts said.
POWERED BY: BUSINESS LINE NEWS
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