Sensex, Nifty scale 10-week highs
Key benchmark indices reached their highest closing level in more than 10 weeks as the Reserve Bank of India (RBI)'s latest move to cut the cash reserve ratio (CRR) requirement for banks by 50 basis points to 5.5% from 6% at a quarterly policy review today, 24 January 2012, boosted investor sentiment.
The barometer index, BSE Sensex, settled a tad below the psychological 17,000 mark, having alternately moved above and below that mark in intraday trade.
The Sensex jumped 244.04 points or 1.46%, off about 55 points from the day's high and up about 225 points from the day's low. Also boosting the sentiment was a statement from the central bank that the reduction in CRR can be viewed as a reinforcement of the guidance that future rate actions will be towards lowering interest rates.
The Sensex has jumped 1,540.85 points or 9.96% so far in this month. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 2,815.37 points or 14.21%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,859.91 points or 12.28%.
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