Indices soar to day's high in late trade; Sensex up 383 points
Sensex ends 383 pts up on all-round buying
Indices ended at the day's high cheering crude oil's slide to a three-month low of $118 a barrel, easing inflation expectations. Interest rate sensitive sectors like banking, realty and auto stocks spearheaded the rally on speculation that US Federal Reserve will increase interest rates in its policy meet later today. Midcaps and smallcaps were also in demand.
Bombay Stock Exchange's Sensex ended 2.63 per cent or 383 points higher at 14,961.07. The index touched a high of 14,986.63 and low of 14,529.21. National Stock Exchange's Nifty rose 2.45 per cent or 107 points to 4502.85 after swinging in a range of 4515.15 and low of 4376.00.
BSE Midcap and Smallcap indices were up 1.76 per cent or 1.26 per cent respectively. Biggest Sensex gainers were Maruti Suzuki (7.84%), ICICI Bank (7.78%), Grasim Industries (7.58%), DLF (7.48%), Jaiprakash Associates (7.08%) and HDFC Bank (6.46%). Sterlite Industries (-6.72%), Tata Steel (2.59%) and Ranbaxy Laboratories (2.09%) were the losers. Market breadth on BSE showed 1761 advances and 931 declines, while on NSE, there were 863 gainers and 402 losers.
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Oil falls below $119
NTPC eyes Indonesian mine
NTPC forays into renewable power
BHEL bags first order to supply 800 MW boilers
Reliance Communications to float $500-million tender for 3G rollout
RBI wants VC investment restricted to select sectors
Source: ET, SIfy
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