Sensex soars on robust Q2 data, easing Dubai woes

Mumbai, Nov 30 (PTI) The Bombay Stock Exchange benchmark
Sensex Monday snapped the two-day 3.3 per cent losses, to
close with a significant gain of over 294 points or 1.71 per
cent, driven by the more than expected GDP growth at 7.9 per
cent amid easing tension in the Dubai debt crisis.

The Sensex, which had lost 223 points on Friday on the
Dubai bubble, recovered to close with a gain of 294.21 points
to 16,926.22 soon after a report showed the economy grew by a
significant 7.9 per cent in the second quarter of this fiscal,
up from 6.1 per cent in the previous quarter. This is the
fastest GDP growth in over 18 months.
The Benchmark touched the day's high of 17,026.91 during
the day, as 26 of the 30-BSE Sensex counters closed higher
and four ended lower.
The wide-based National Stock Exchange index Nifty also
rose by 90.95 points to 5,032.70 with heavy-weight stocks
recording handsome gains. The Nifty touched the day's hgih of
5,066.35.
While firming trend in Asian markets supported the
Sensex to some extent, a weak European open capped the gains.
The market rebounded as most battered sectors like
metals, IT, banks and realty gained the most Monday.
With the buying activity spilling over a wide-front,
smallcap index rose by 2.08 per cent to 7,522.98 and midcap
index by 1.63 per cent to 6,415.47. PTI RS
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