Indian equities move up higher on global cues (Lead)September 19th, 2008 - 5:12 pm ICT by IANS
Mumbai, Sep 19 (IANS) Indian equities opened higher Friday and surged ahead on cues from other markets and on hopes that the crisis surrounding the global financial markets may be softened by central bank interventions.Emulating the rally in all major Asian markets and on Wall Street, the sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 13,763.83 points, as against Thursday’s close at 13,315.60 and soon shot up to 13,807.09 points.
But as trading progressed, the index breached the psychologically important 14,000-point mark and was ruling at 14,000.89 points, with a gain of 685.29 points, or 5.15 percent, some half-hour before the closing bell.
The broader S&P CNX Nifty was also up 4.53 percent at 4,038.15 points.
Realty stocks were the clear favourites, with BSE’s index for the group up 8.08 percent, followed by a rise of 6.56 percent for the information technology index and 5.93 percent for the technology index.
In fact, each of the 13 sector-specific indices of the exchange were trading in the positive territory.