Markets continue last week’s rally (Second Lead)December 15th, 2008 - 6:01 pm ICT by IANS
Mumbai, Dec 15 (IANS) Indian equities markets closed higher Monday as news of state-run banks cutting interest rates on fresh home loans spurred a rally in many housing and infrastructure stocks in a key index.The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) closed at 9,832.39 points, a rise of 1.47 percent or 142.32 points over its weekend close at 9,690.07 points.
As was the case most of last week, realty and metal stocks prompted the day’s Sensex rise with the realty sectoral index moving up 5.53 percent while the metal sectoral index went up by 5.19 percent.
The broader-based 50-share S&P CNX Nifty of the National Stock Exchange (NSE) closed at 2,981.2 points, 2.05 percent or 59.85 points higher than its previous close Friday.
BSE midcap and smallcap indices continued outperforming the Sensex with the midcap index closing 114.59 points or 3.76 percent higher at 3,165.07 points, while the smallcap index closed at 3,659.09 points, a rise of 128.13 points or 3.63 percent.