Buoyed by growth projections, Sensex closes above 15K | business | Hindustan Times
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Buoyed by growth projections, Sensex closes above 15K

business Updated: Jun 09, 2009 17:38 IST

Buoyed by positive economic growth estimates by the government, the Bombay Stock Exchange benchmark Sensex today surged by over 461 points on aggressive buying by funds to regain the 15,000-level which it lost in yesterday’s steep fall.

Prime Minister Manmohan Singh’s comments on economic growth immediately triggered hefty buying interest on bourses. Winding up a debate in Parliament, Singh said the economy can grow by 8-9 per cent rate despite global slowdown.

With funds turning aggressive buyers, the barometer, which opened remarkably lower, shot up 461.08 points to close close at 15,127.00.

Wider National Stock Exchange index Nifty also spurted by 121.05 points at 4,550.95.

Realty major DLF was biggest gainer among Sensex stocks at 10.07 per cent, followed Jaiprakash Associates at 8.18 per cent, Reliance Com at 7.37 per cent, Ranbaxy at 6.37 per cent and Larsen and Toubro by 6.39 per cent.

Market leader Reliance Industreis also spurted by 3.79 per cent, followed and IT bellwether Infosys 3.60 per cent. Banking major SBI too shot up by 4.02 per cent.

The benchmark index had fallen by nearly 438 points to close below 15,000 level yesterday.