Sensex spurts 507 points; RIL up 5 per cent
Snapping the six-day falling streak, the Bombay Stock Exchange benchmark Sensex today spurted by over 500 points at 15,912 points as buying got a big boost after Finance Minister Pranab Mukherjee said the government would not withdraw stimulus measures.business Updated: Nov 04, 2009 17:14 IST
Snapping the six-day falling streak, the Bombay Stock Exchange benchmark Sensex on Wednesday spurted by over 500 points as buying got a big boost after Finance Minister Pranab Mukherjee said the government would not withdraw stimulus measures.
The 30-share Sensex, which had lost 1,405 points in the past six trading sessions, bounced back to record a notable gain of 507.19 points to end at 15,912.13 on tremendous buying support, particularly in blue-chips RIL and Infosys attracted.
In a similar fashion, the wide-based National Stock Exchange index Nifty surged by 146.90 points, or 3.22 per cent to 4,710.80.
Brokers said trading sentiment was helped by comments from Mukherjee, who yesterday after market hours said fiscal stimulus will continue. World markets edging higher also helped buying, they added.
"Today's recovery seems to be a technical bounce back after the recent fall following inflow of disappointing quarterly corporate earnings,' said BSE broker Rajiv Malik.
He said the finance minister's comments on fiscal stimulus package also buoyed the sentiment.
In the 30-BSE index stocks, three fell while all other 27 closedwith gains. All sectoral indices led by Realty and metal remained in positve zone.