Markets recover, key index closes above 10,000 points (Second Lead)December 18th, 2008 - 5:35 pm ICT by IANS
Mumbai, Dec 18 (IANS) Buoyed by investor confidence stemming from falling rate of inflation, Indian equities markets closed strong Thursday with a key index (provisionally) rising 3.55 percent to close above 10,000 points.The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) rose 344.82 points or 3.55 percent to close at 10,060.11 points Thursday as compared to the previous close of 9,715.29 points.
Earlier in the day, government data showed that India’s annual rate of inflation dropped further to 6.84 percent for the week ended Dec 6 from 8 percent the week before.
The broader-based 50-share S&P CNX Nifty of the National Stock Exchange (NSE) also followed a similar trend to close at 3,059.50 points, up 105.15 points or 3.56 percent.
Broader market indices were, however, a bit slower to rise with the midcap index trading 2.22 percent higher, while the smallcap index rose only 0.94 percent over its previous close.