Fiscal package lifts key Indian market indexDecember 8th, 2008 - 3:11 pm ICT by IANS
Mumbai, Dec 8 (IANS) Investor mood across the country was buoyed by the fiscal package and the four percent cut in excise announced by the government, lifting a key equity up up by 342 points Monday, some three hours into trading.The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was ruling at 9,318.59 around 1:30 p.m., up 353.39 points, or 3.94 percent, from its previous close Friday at 8,965.20 points.
The 50-share S&P CNX Nifty of the National Stock Exchange (NSE), also showed a similar trend and was ruling at 2815.65, up 101.25 points, or 3.73 percent, from its previous close Thursday at 2714.40 points.
The BSE midcap index was ruling at 2,918, up 25.13 points or 0.87 percent from its previous close Friday at 2,892.95 points.
The BSE smallcap index was in the green and was ruling at 3,361.08, up 37.52 points or 1.13 percent from its previous close Thursday at 3,323.54 points.
Over the weekend US markets had closed higher with a key index of the New York Stock Exchange finishing 4.41 percent higher.
Asian markets were mixed with the Nikkei, key index of the Tokyo Stock Exchange showing gain of 411.54 points and the Hang Seng, key index of the Hong Kong Stock Exchange was moving up by 7.67 percent.