NSG waiver buoys markets, Sensex rises by 461 points
Sensex, which had lost over 415 in the previous trading session, moved up by 461 points at 14,944.Updated: Sep 08, 2008, 17:15 IST
The markets gave a thumbs-up to India's joining the elite nuclear club with the benchmark Sensex notching up a gain of over 460 points but fell short of the psychological 15,000 level by a whisker.
The BSE barometer, which had lost over 415 in the previous trading session, on Monday moved up by 461.14 points at 14,944.97.
The 30-share rose to the intra-day high of 15,107.01 points on strong buying support.
Similarly, wide-based National Stock Exchange index Nifty rose by 130 points at 4,482.30. It touched the day's high of 4,558.00 and a low of 4,358.30 points.
Marketmen said investor sentiment got a big boost after India secured a waiver from the Nuclear Suppliers Group (NSG) for trade in atomic energy.
They said US government's takeover of mortgage majors Fannie Mae and Freddie Mac boosted the hopes that global economy can weather the sub-prime crisis.
On BSE, banking stocks came out as the biggest gainer of the day with their sectoral index rising by a handsome 4.06 per cent. Realty index was also up by 3.177 per cent, while the consumer goods index closed higher by 3.70 per cent followed by power at 3.336 per cent.
IT stocks also attracted buying and the sectoral index gained 2.