ID :
60843
Sat, 05/16/2009 - 05:15
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https://www.oananews.org//node/60843
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Sensex rises on RBI's bullish outlook
Sensex rises on RBI's bullish outlook
Mumbai, May 15 (PTI) The RBI's positive outlook on the
Indian economy did much to contain the markets' uneasiness
seen during the past two days over government formation as the
BSE Sensex today went up 301 points, with Ranbaxy and ICICI
Bank being the chief gainers.
The Sensex, however, came off its intra-day high of
12,219.54 due to selling pressure from foreign funds.
The BSE bellwether settled the day at 12,173.42, a net
rise of 300.51 points or 2.53 per cent over its last close.
RBI Governor D Subbarao said yesterday India's recovery
will be more swift than others.
The National Stock Exchange's 50-share Nifty also spurted
by 78.20 points or 2.18 per cent to close at 3,671.65 from its
last close.
India's largest drugmaker Ranbaxy Laboratories logged the
day's biggest gains of 8.59 per cent on expectations that the
company may trim its Q2 losses with the rupee's appreciation
against dollar.
Among others, India's largest private lender ICICI Bank
gained 7.03 per cent, Grasim 4.96 per cent, Bharti Airtel 4.68
per cent, and L&T 4.32 per cent.
ONGC, however, dropped by 2.27 per cent.
"The results of the exit polls are vague but one thing is
clear -- either the UPA or the NDA will come to power. Markets
are hoping that they do well," SMC Global Vice-President
Rajesh Jain said.
Asian indices ended remarkably higher with the Hong Kong,
Japan and Taiwan indices rising by about 2.0 per cent.
Analysts said trading volatility may remain high until
the next government takes office at the Centre.
The banking index gained the most, 3.86 per cent,
reaching 6,375.65, followed by capital goods, which rose 3.57
per cent to 8,676.35.
The consumer durables index rose 3.18 per cent to
2,007.22, teck 3.05 per cent to 2,316.65, IT 2.47 per cent to
2,850.73, power 1.88 per cent to 2,216.53, and realty 2.14 per
cent to 2,404.87.
The metal index rose 1.76 per cent to 7,872.70,
healthcare 1.49 per cent to 3,161.14, oil and gas 1.21 per
cent to 8,509.62, auto 1.11 per cent to 3,742.86 and PSU 0.13
per cent to 6,038.18.
However, the FMCG index fell by 0.24 per cent to
2,054.98.
With the market experiencing brisk buying, the midcap
index rose 1.33 per cent to 3,807.07 and the smallcap index by
0.84 per cent to 4,279.60. PTI JCG
AM
Mumbai, May 15 (PTI) The RBI's positive outlook on the
Indian economy did much to contain the markets' uneasiness
seen during the past two days over government formation as the
BSE Sensex today went up 301 points, with Ranbaxy and ICICI
Bank being the chief gainers.
The Sensex, however, came off its intra-day high of
12,219.54 due to selling pressure from foreign funds.
The BSE bellwether settled the day at 12,173.42, a net
rise of 300.51 points or 2.53 per cent over its last close.
RBI Governor D Subbarao said yesterday India's recovery
will be more swift than others.
The National Stock Exchange's 50-share Nifty also spurted
by 78.20 points or 2.18 per cent to close at 3,671.65 from its
last close.
India's largest drugmaker Ranbaxy Laboratories logged the
day's biggest gains of 8.59 per cent on expectations that the
company may trim its Q2 losses with the rupee's appreciation
against dollar.
Among others, India's largest private lender ICICI Bank
gained 7.03 per cent, Grasim 4.96 per cent, Bharti Airtel 4.68
per cent, and L&T 4.32 per cent.
ONGC, however, dropped by 2.27 per cent.
"The results of the exit polls are vague but one thing is
clear -- either the UPA or the NDA will come to power. Markets
are hoping that they do well," SMC Global Vice-President
Rajesh Jain said.
Asian indices ended remarkably higher with the Hong Kong,
Japan and Taiwan indices rising by about 2.0 per cent.
Analysts said trading volatility may remain high until
the next government takes office at the Centre.
The banking index gained the most, 3.86 per cent,
reaching 6,375.65, followed by capital goods, which rose 3.57
per cent to 8,676.35.
The consumer durables index rose 3.18 per cent to
2,007.22, teck 3.05 per cent to 2,316.65, IT 2.47 per cent to
2,850.73, power 1.88 per cent to 2,216.53, and realty 2.14 per
cent to 2,404.87.
The metal index rose 1.76 per cent to 7,872.70,
healthcare 1.49 per cent to 3,161.14, oil and gas 1.21 per
cent to 8,509.62, auto 1.11 per cent to 3,742.86 and PSU 0.13
per cent to 6,038.18.
However, the FMCG index fell by 0.24 per cent to
2,054.98.
With the market experiencing brisk buying, the midcap
index rose 1.33 per cent to 3,807.07 and the smallcap index by
0.84 per cent to 4,279.60. PTI JCG
AM
