Markets rise, Sensex up by 360 points
Sensex, which moved around the 16-month low level of 13,000 points level in the past two day, shot up by 359.89 points at 13,454.00.business Updated: Jul 04, 2008 17:07 IST
Markets bounced back on Friday with the benchmark Sensex scaling up nearly 360 points on revival of buying support following reports that inflation is below 12 per cent level contrary to anticipations that it would breach this mark.
Marketmen said indications of political tension easing also aided the investor sentiment.
The 30-share Sensex on BSE, which moved around the 16-month low level of 13,000 points level in the past two day, shot up on Friday by 359.89 points at 13,454.00.
The index touched the day's high of 13,509.74 and a low of 13,027.79 points.
The wide-based National Stock Exchange index Nifty rose by 90.25 points, or 2.30 per cent, at 4,016.00, after touching the day's high of 4,033.50 and a low of 3896.40 points.
The BSE barometer jumped riding on the back of a surge in consumer goods and banking stocks.
The much battered realty stocks were the best performer with a gain of 7.80 per cent. Leaders DLF Ltd., Unitech, Ansal Infrastructure, Indiabulls Realty, Parasvnath and Omex firmed up on fresh buying.
Capital goods sector index at 6.79 per cent was the next best performer Sector's leading members Bharat Heavy Electricals Ltd, Larsen and Toubro, Punj Lloyed, Siemens, Thermax, Areva and Alstom recorded handsome gains.