Sensex surges 419 pts on positive cues
The Financial Express, June 27, 2009, Page 1
Reuters, Mumbai
The Bombay Stock Exchange benchmark Sensex surged over 419 points on Friday on frantic buying as investors took cues from higher Asian and European peers and built positions after the market had fallen 7.2 per cent over the past two weeks.
The Sensex, which commenced the day higher, spurted by 419.02 or 2.92 per cent to settle at 14,764.64, after touching a high of 14,781.94 point.
The broad-based 50-share National Stock Exchange index Nifty spurted by 133.65 points to 4,375.50, after reaching the day's high of 4,383.75 points.
The rally was backed by heavyweight stocks of Reliance Industries, Reliance Comm, Reliance Infra, Infosys Technologies, DLF Ltd, Larsen and Toubro, BHEL, State Bank of India and ICICI Bank.
Marketmen said buying activity picked up at the fag-end after an international rating agency said the Indian stocks are fairly valued.
The Tokyo-based Nomura Holding said the Indian stocks are "fairly valued" after a 49 per cent advance this year and further gains depend on government policies to boost economic growth and pare a budget deficit.
"There is more brisk buying by funds to create fresh positions at the beginning of the July-month contract in the derivatives segment today," said NSE broker Rajiv Malik.
US dollar ends sharply cheaper against Rupee
The U.S. Dollar ended sharply cheaper against the Rupee at Rs.48.10/11 per dollar but the Pound Sterling turned higher at Rs.79.24/26 per pound at the close of the Interbank Foreign Exchange (Forex) market in Mumbai on Friday.
The Financial Express, June 27, 2009, Page 1
Reuters, Mumbai
The Bombay Stock Exchange benchmark Sensex surged over 419 points on Friday on frantic buying as investors took cues from higher Asian and European peers and built positions after the market had fallen 7.2 per cent over the past two weeks.
The Sensex, which commenced the day higher, spurted by 419.02 or 2.92 per cent to settle at 14,764.64, after touching a high of 14,781.94 point.
The broad-based 50-share National Stock Exchange index Nifty spurted by 133.65 points to 4,375.50, after reaching the day's high of 4,383.75 points.
The rally was backed by heavyweight stocks of Reliance Industries, Reliance Comm, Reliance Infra, Infosys Technologies, DLF Ltd, Larsen and Toubro, BHEL, State Bank of India and ICICI Bank.
Marketmen said buying activity picked up at the fag-end after an international rating agency said the Indian stocks are fairly valued.
The Tokyo-based Nomura Holding said the Indian stocks are "fairly valued" after a 49 per cent advance this year and further gains depend on government policies to boost economic growth and pare a budget deficit.
"There is more brisk buying by funds to create fresh positions at the beginning of the July-month contract in the derivatives segment today," said NSE broker Rajiv Malik.
US dollar ends sharply cheaper against Rupee
The U.S. Dollar ended sharply cheaper against the Rupee at Rs.48.10/11 per dollar but the Pound Sterling turned higher at Rs.79.24/26 per pound at the close of the Interbank Foreign Exchange (Forex) market in Mumbai on Friday.
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