Sensex regains 15K level; Nifty crosses another milestone
Sensex spurted by 574.17 points to 15,072.68, the second wide-based National Stock Exchange index Nifty went up by 173.75 points to 4,522.40.business Updated: Sep 02, 2008 14:26 IST
A strong rally in the equity markets pushed up the key indices in pre-close trading on Tuesday, lifting the BSE Sensex over 15,000 points level and the NSE index Nifty over 4,500 points after crude fell below 106 dollar a barrel in global markets.
While the Bombay Stock Exchange benchmark Sensex spurted by 574.17 points, or 3.96 per cent, to 15,072.68 at 1400 hrs, the second wide-based National Stock Exchange index Nifty went up by 173.75 points to 4,522.40.
The Nifty, which had crossed a 4,400 points level at mid-session, further zoomed to pierced through another barrier of 4,500 points as funds turned aggressive buyers in heavy-weight stocks led by bank, refinery and infrastructure sectors as tumbling crude oil prices eased inflation concerns.
The major support to the market came in from trend-setter stocks from both the Ambani brothers' group companies, which recorded significant gains.
Banking stocks rose as easing concerns of inflation raised hopes of no change in the interest rates.