Sensex gains 81 pts; discounts rise in inflation
Sensex discounted the rise in inflation and gained 81 points as buyers outnumbered sellers, influenced by firming global trend.business Updated: May 16, 2008 18:07 IST
The Bombay Stock Exchange benchmark Sensex on Friday discounted the rise in inflation and gained 81 points as buyers outnumbered sellers, influenced by firming global trend.
The Sensex, which had gained 375 points on Thursday, advanced 81.40 points to 17,434.94. The key-index touched the day's high of 17,497.36 and low of 17,315.52 points. Investors bought shares mainly in metal and banking firms.
The wide-based National Stock Exchange's Nifty rose 42.45 points to 5,157.70, after touching high of 5,167.40 and low of 5,106.40 points.
Inflation rose to 7.83 per cent for the week ended May 3, against 7.61 per cent in the last week. But the development had a negligible impact on trading sentiment, marketmen said.
They said investors was more influenced with the global stock markets' behaviour.
Sector wise, metal index gained the most by 317.64 points to 17,058.01, followed by bank index by 135.27 points to 8,941.28, oil and gas index by 83.82 points to 11,289.58 and capital goods index by 95.95 points to 13,696.75.