Sensex regains 10,000-points mark

November 3rd, 2008 - 1:52 pm ICT by ANI  

Mumbai, Nov 3 (ANI): The Bombay Stock Exchanges Sensex on Monday regained 10,000-points mark and surged by 544 points in early trade on heavy buying by funds as well as retailers.

The regain of 10,000-points mark was sparked by Reserve Bank of Indias (RBI) announcement of fresh set of measures to infuse more liquidity into the financial system.

The 30-share Sensex, which gained almost 1,200 points in the past three sessions, shot up by another 544 points at 10,332.06 on renewed buying in the stocks of banking, capital goods, metals and oil and gas sectors.

The National Stock Exchange’’s Nifty also rose by 158.80 points, or 5.43 per cent, at 3,044.40 points.

The sentiments turned bullish after the apex bank slashed cash reserve ratio (the amount which banks have to park with it) by one per cent to 5.5 per cent, while the repo rate, at which the central bank lends to banks, was cut by 0.5 per cent to 7.5 per cent.

Meanwhile, among other Asian equity markets, Hong Kong’’s Hang Seng Index was up by 4.8 per cent in early trade on Monday. (ANI)

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