Manmohan Singhs remark lifts market, Sensex crosses 18k markFebruary 15th, 2008 - 6:48 pm ICT by admin
Mumbai, Feb 15 (ANI): Prime Minister Dr Manmohan Singhs soothing comments on limiting the impact of any global slowdown on India and brisk buying by funds following reports of inflation rate cooling led to the Bombay Stock Exchange benchmark Sensex regaining the 18K-level by gaining over 330 points.
The 30-share Sensex, which opened lower by 331 points, recovered sharply and not only wiped off the early losses but closed the day higher by 348.62 points at 18,115.25.
Market players said trading sentiment was boosted by reports of Dr. Singh asserting the government will take steps to limit the impact of any global slowdown on India.
Stocks gained further ground with support from positive global cues. Shares of metal, oil and real estate companies led the advances.
Biggest index gainers were Hindalco Industries (up 6.96 per cent), Bajaj Auto (5.03 per cent), Ranbaxy Laboratories (4.42 per cent), Hindustan Unilever (4.01 per cent), Tata Steel (3.81 per cent) and Reliance Industries (2.56 per cent). Reliance Energy (down 1.89 per cent), Maruti Suzuki (1.38 per cent), Satyam Computer (1.23 per cent) and Grasim Industries (1.1 per cent) were the losers.
The Nifty was up 84 points or 1.61 per cent at 5285.55. From the low of 5104.75, the index rose to a high of 5303.10. (ANI)