Advertisement

HindustanTimes Sun,31 Aug 2014

Sensex ends above 20,000 after 2 years

HT Correspondent, Hindustan Times  Mumbai, January 18, 2013
First Published: 09:58 IST(18/1/2013) | Last Updated: 23:13 IST(18/1/2013)

The benchmark BSE Sensex on Friday ended above the 20,000-mark for the first time in two years on continued buying in oil and gas stocks on the back of partial deregulation in diesel prices. The benchmark index rose 75 points, or 0.4%, to close at 20,039.

Advertisement

The Nifty of the National Stock Exchange also closed up 25.2 points, or 0.4%, at 6,064.

Indian Oil Corp, Bharat Petroleum Corp, Oil India, Oil and Natural Gas Corp and Indraprastha Gas, which rose by 10.5%, 9.6%, 8.9%, 7.3% and 5.6%, respectively, were the biggest gainers.

"On the back of global cues and measures taken by the government on fuel prices, the markets opened on a strong footing," said Sanjeev Zarbade, vice-president, private client group, research, Kotak Securities. "As a result of the government's move to deregulate diesel prices, oil and gas stocks caught the market's fancy."

"Markets have moved up over the past few months in anticipation of additional fund flows and of further reform initiatives from the government," he added.


Advertisement
more from Business

Airlines claim some airports charging for landing small planes

Some Indian airlines have claimed that they had to pay landing charges for small aircraft at several airports where rules do not permit such payments and urged the government to look into the matter and help them improve connectivity to non-metro cities.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved