Sensex closes 417 points higher
A benchmark index of Indian equities markets closed 417 points higher following a worldwide rally after the US Federal Reserve announced a new stimulus plan to revive growth in the world's largest economy.business Updated: Sep 14, 2012 17:08 IST
A benchmark index of Indian equities markets closed 417 points higher following a worldwide rally after the US Federal Reserve announced a new stimulus plan to revive growth in the world's largest economy.
The government's decision to hike the diesel price and limit the distribution of subsidised cooking gas also helped stocks move up. Realty, banking and metal stocks were the best performers.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,284.75 points, closed 18,437.90 points (provisional), 416.74 points or 2.31% up from its previous day's close at 18,021.16 points.
The Sensex touched a high of 18,498.54 and a low of 18,284.75 points in intra-day trade. The BSE midcap index was up 50.79 points while the smallcap index was 28.45 points high.
The wider 50-scrip S&P CNX Nifty of the National Stock Exchange closed 2.43% up at 5,567.40 points.
On the sectoral front, the BSE realty index was up 74.05 points while banking was up 475.24 points and metal index was up 390.21 points.
Jindal Steel was the biggest Sensex gainer and closed 7.72% higher at Rs.368.45.
Other major gainers were Hindalco Inds, up 7.32 percent at Rs. 117.35; SBI, up 5.49% at Rs .1,969.90; RIL, up 4.99% at Rs. 838.05; and Larsen and Toubro, up 4.93% at Rs. 1,487.70.
There were only seven Sensex losers which included NTPC, down 2.05% at Rs. 167.35; Dr Reddys Lab, down 1.81% at Rs. 1,742; ITC, down 0.82% at Rs. 267.50 and ONGC, down 0.76% at Rs. 280.90.