Sensex zooms on US stimulus, diesel price hike

September 14th, 2012 - 3:47 pm ICT by IANS  

Sensex New Delhi, Sep 14 (IANS) A benchmark index of Indian equities markets surged 407 points Thursday afternoon following a worldwide rally after the US Federal Reserve announced a new stimulus plan to revive growth in the world’s largest economy.

The government’s decision to hike diesel price and cut subsidies for cooking gas also helped stocks move up. Realty, metal and banking scrips were the best performers.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,284.75 points, was ruling at 18,427.93 points, 406.77 points or 2.26 percent up from its previous day’s close at 18,021.16 points.

The Sensex touched a high of 18,456.33 and a low of 18,284.75 points in intra-day trade. The BSE midcap index was up 61.76 points while the smallcap index was 50.22 points high.

The wider 50-scrip S&P; CNX Nifty of the National Stock Exchange was also ruling 2.36 percent up at 5,563.85 points.

On the sectoral front, the BSE realty index was up 70.59 points while metal index was up 396.58 points and banking index was up 437.42 points.

Jindal Steel was the biggest Sensex gainer and was trading high 7.67 percent at Rs.368.60.

Other major gainers were Hindalco Inds, up 7.36 percent at Rs.117.40; ICICI Bank, up 5.19 percent at Rs.1,008.45; Larsen and Toubro, up 4.86 percent at Rs.1,486.75; SBI, up 4.64 percent at Rs.1,954.05; and Sterlite Inds, up 4.61 percent at Rs.98.70.

There were only four Sensex losers — TCS, down 0.58 percent at Rs.1,407.15; ITC, down 0.48 percent at Rs.268.40; Sun Pharma, down 0.21 percent at Rs.675.45; and Sun Pharma, down 0.21 percent at Rs.675.45.

Among other Asian markets, Japan’s Nikkei was up 1.83 percent while Hong Kong’s Hang Seng was trading 2.90 percent higher. Shanghai’s composite index was also up 0.64 percent.

The European markets too opened in green. France’s CAC was up 1.90 percent, while Germany’s DAX was up 1.50 percent. Britain’s FTSE 100 was trading 1.47 percent higher.

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