Markets welcome monetary policy, Sensex surges 362 points(Roundup)

April 29th, 2008 - 6:43 pm ICT by admin  

A file-photo of Sensex

Mumbai, April 29 (IANS) The Indian equities market Tuesday reacted positively to the monetary policy announced by the Reserve Bank of India (RBI) and ended the day in the green. Metal, realty and oil and gas sectors led the rally. The apex bank raised the cash reserve ratio by 25 points but kept the bank rates, repo and reverse repo rate unchanged.

The market started the day in positive zone and by mid afternoon increased its gain after the RBI’s policy announcement.

The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened at 17,050.87 points and touched a high of 17,424.94 before closing at 17,378.46 points. It went up by 362.50 points or 2.13 percent compared to its close Monday.

The National Stock Exchange (NSE) S&P Nifty, which opened at 5,092.40 points, closed at 5,195.50. It went up by 105.85 points or 2.08 percent from its previous close.

The BSE Midcap index, which closed at 7,146.95 points, went up by 79.55 points or 1.13 percent.

The BSE Smallcap index, which closed at 8,785.31 points, went up by 75.49 points or 0.87 percent.

The market breadth was positive. On BSE, 1,588 shares advanced, 1,121 declined and 61 maintained status quo.

The top gainers of the day included DLF at Rs.725.85 up 8.57 percent, Satyam at Rs.479.25 gained 8.22 percent, Jaiprakash Associate at Rs.266.10 surged 5.95 percent.

The top losers of the day included Grasim at Rs.2471.30 down 6.16 percent, Bharti Airtel at Rs.902.00 slid by 2.79 percent, Reliance Communication at Rs.574.70 went down by 1.73 percent.

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