Indian equities end higher as Manmohan Singh assures growth (Lead)

November 21st, 2008 - 6:04 pm ICT by IANS  

Manmohan SinghMumbai, Nov 21 (IANS) Indian equities ended significantly higher Friday after Prime Minister Manmohan Singh assured the nation that the Indian economy will not only weather the global financial crisis but also grow by eight percent.The prime minister’s remarks lifted the sentiments and resulted in the sensitive index (Sensex) of the Bombay Stock Exchange (BSE) close the week at 8,915.21 points, up 464.20 points, or 5.49 percent, over the previous day’s close at 8,451.01 points.

But for the realty index, down two percent, all the 13 sector-specific indices of the exchange ended in the green. Similarly, 26 stocks that go into the basket of Sensex shares closed with gains and only four ended lower.

Yet, data with the exchange showed that the Sensex lost 470.21 points, or 5.01 percent over the week, despite the gains made Friday.

At the National Stock Exchange (NSE), the broader S&P CNX Nifty ended at 2,693.45, with a gain of 5.5 percent over the previous day’s close at 2.553.15 points.

At the BSE, Reliance Infrastructure led the gainers, up 14.07 percent, followed by Reliance Communications, up 13.64 percent, Sterlite Industries, up 9.10 percent, NTPC, up 8.8 percent and HDFC, up 8.49 percent.

Realty major DLF led the losers, down 3.41 percent, followed by Jaiprakash Associates down 2.18 percent, ACC, down 2.08 percent and Tata Power, down 0.47 percent.

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