Sensex up 291 pts on global cues | business | Hindustan Times
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Sensex up 291 pts on global cues

business Updated: Sep 04, 2009 22:39 IST
Sandeep Singh
Sandeep Singh
Hindustan Times
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Taking positive cues from the global markets that witnessed strength and improved prospects of a better Rabi crop, the sensex at the Bombay Stock Exchange (BSE) gained 1.9 per cent or 291 points on Friday to close the week at 15,689.

The wider Nifty gained 1.9 per cent to close at 4,680.

It was the auto sector and metals in India that led the markets gain on Friday. Auto index was up by 2.9 per cent, while metals was up 2.8 per cent. Among the sensex companies Mahindra & Mahindra was the top gainer with 6.2 per cent.

“Monday is a holiday for US markets and that raised buying interest in Asia,” said Alex Mathews, head of research, Geojit BNP Paribas, Financial Services. “Expectation of a better crop has also improved the sentiments leading to strengthening of the markets.”

Except for Japan and South Korea, which closed with mild correction, all Asian markets closed in the green. Hang Seng was up 2.8 per cent while Shanghai Composite closed with again of 0.7 per cent.