ID :
84365
Tue, 10/13/2009 - 13:40
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https://www.oananews.org//node/84365
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Sensex surges on robust industrial growth, recover 17k
STOCKS-CLOSE
Mumbai, Oct 12 (PTI) Buoyed by industrial growth figure
beating all street projections and hopes of Ambani brothers
patching up helped the BSE benchmark Sensex Monday surged over
384 points to reclaim the 17,000-point peak.
The 30-share Sensex, which commenced the day higher,
advanced further to record a handsome gain of 384.01 points to
close at 17,026.67 as an over 22-month high industrial growth
of 10.4 per cent in August boosted trading sentiment.
The crucial 1,7000 level was earlier regained on October
1.
According to brokers the market also got support from
India Prime Minister Manmohan Singh's Sunday's statement that
the nation's economic growth will accelerate.
The industrial growth for the month of August rose to
10.4 per cent, clearly showing that stimulus measures of the
government have yielded results which may make up for the
likely decline in farm output in months to come
Besides, Finance Minister Pranab Mukherjee's comments on
industrial production that "it is a good sign and it is a
recovery" fueled trading sentiment.
Major support to the market came from Reliance Industries,
which has a heaviest weight on the Sensex, rising by 3.19 per
cent to Rs 2,167.10, on expectations the patch-up between the
Ambani brothers would boost investor confidence.
Similarly, the wide-based National Stock Exchange index
Nifty shot up by 109.05 to 5,054.25, after touching the day's
high of 5,068.05.
In the 30-BSE index stocks, 27 ended with gains while
three - BHEL, Hero Honda and Reliance Communication lost
substantial ground on profit selling. (MORE) PTI RS
DDC
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Mumbai, Oct 12 (PTI) Buoyed by industrial growth figure
beating all street projections and hopes of Ambani brothers
patching up helped the BSE benchmark Sensex Monday surged over
384 points to reclaim the 17,000-point peak.
The 30-share Sensex, which commenced the day higher,
advanced further to record a handsome gain of 384.01 points to
close at 17,026.67 as an over 22-month high industrial growth
of 10.4 per cent in August boosted trading sentiment.
The crucial 1,7000 level was earlier regained on October
1.
According to brokers the market also got support from
India Prime Minister Manmohan Singh's Sunday's statement that
the nation's economic growth will accelerate.
The industrial growth for the month of August rose to
10.4 per cent, clearly showing that stimulus measures of the
government have yielded results which may make up for the
likely decline in farm output in months to come
Besides, Finance Minister Pranab Mukherjee's comments on
industrial production that "it is a good sign and it is a
recovery" fueled trading sentiment.
Major support to the market came from Reliance Industries,
which has a heaviest weight on the Sensex, rising by 3.19 per
cent to Rs 2,167.10, on expectations the patch-up between the
Ambani brothers would boost investor confidence.
Similarly, the wide-based National Stock Exchange index
Nifty shot up by 109.05 to 5,054.25, after touching the day's
high of 5,068.05.
In the 30-BSE index stocks, 27 ended with gains while
three - BHEL, Hero Honda and Reliance Communication lost
substantial ground on profit selling. (MORE) PTI RS
DDC
The information contained in this electronic message and any attachments to this
message are intended for the exclusive
use of the addressee(s) and may contain proprietary, confidential or privileged
information. If you are not the intended
recipient, you should not disseminate, distribute or copy this e-mail. Please
notify the sender immediately and destroy
all copies of this message and any attachments contained in it.
