Press Esc to close
Wednesday 22 February 2017
News updated at 2:28 AM IST
Weather
Max: 33.4°C
Min : 17.7°C
In Bengaluru
clear sky

Sensex gains 88.5pts to end at nearly 3-wk high after RBI move

Mumbai, Oct 8, 2013, (PTI)
File Photo. For representation only.
The Sensex today jumped by 88.51 points to end at a nearly three-week high on good buying in rate-sensitive sectors like realty, banking and consumer durables after the RBI eased the cash availability situation ahead of the festive season.
After a higher start at 20,094.21, the Sensex touched day's high of 20,094.21 before closing at 19,983.61 -- up 88.51 points, or 0.44 per cent. This is the highest closing level since September 20 (20,263.71).

Gainers were led by Bharti Airtel, ICICI Bank, Infosys, ITC, Jindal Steel, L&T, NTPC and ONGC. In the overall 30-share Sensex, 13 stocks advanced and 16 ended lower while Reliance Industries settled almost unchanged.

"The Reserve Bank of India's (RBI) measures to ease liquidity will benefit banks as they enter the 'busy' credit season. The gradual unwinding of July's extraordinary liquidity squeeze also reflects RBI's growing confidence in managing the current account deficit in the short-term," said India Ratings & Research.

On similar lines, the broad-based National Stock Exchange index Nifty closed higher by 22.25 points, or 0.38 per cent, at 5,928.40, after touching a high of 5,981.70. Also, SX40 index, the flagship index of MCX-SX, gained 48.17 points to end at 11,904.62.

Brokers said a firming trend in the Asian region further supported the uptrend.Meanwhile, the rupee was trading almost flat at 61.89 versus the US dollar.

Sectorally, the BSE Realty sector index gained the most by rising 1.57 per cent, followed by capital goods index (1.32 pc), FMCG index (0.78 pc), power index (0.76 pc) and banking (0.67 pc).

Yesterday, the RBI announced it is reducing the marginal standing facility rate by a further 50 basis points to 9.0 per cent with immediate effect. It also said it would provide additional liquidity through term repos of 7-day and 14-day tenor for a notified amount equivalent to 0.25 per cent of net demand and time liabilities of the banking system through variable rate auctions on every Friday beginning October 11.

 

Go to Top

Photo Gallery
Indian women cricketers after winning their ICC Women's World Cup Qualifier final...

Indian women cricketers after winning their ICC Women's World Cup Qualifier final...

A Pakistani volunteer carries an injured child to a hospital in Peshawar, Pakistan...

A Pakistani volunteer carries an injured child to a hospital in Peshawar, Pakistan...

Four rare white lion cubs sit besides their mother Kiara at the zoo in Magdeburg, Germany...

Four rare white lion cubs sit besides their mother Kiara at the zoo in Magdeburg, Germany...

A shepherd taking his flock for grazing at a village in Rambha in Ganjam district...

A shepherd taking his flock for grazing at a village in Rambha in Ganjam district...

A Cheetah cub licks it's handler on the BUILD Speaker Series to promote Nat Geo Wild's 'Big Cat...

A Cheetah cub licks it's handler on the BUILD Speaker Series to promote Nat Geo Wild's 'Big Cat...

Actors Akshay Kumar and Taapsee Pannu at J P Hospital at sector 128 in Noida...

Actors Akshay Kumar and Taapsee Pannu at J P Hospital at sector 128 in Noida...

Bollywood superstar Shahrukh Khan showing his ink marked finger after casting the vote...

Bollywood superstar Shahrukh Khan showing his ink marked finger after casting the vote...

Bollywood actor and Ambassador for save the children, Dia Mirza at the launch of Standard...

Bollywood actor and Ambassador for save the children, Dia Mirza at the launch of Standard...

Microsoft CEO Satya Nadella (Centre) and Chairman Nandan Nilekani during an event on...

Microsoft CEO Satya Nadella (Centre) and Chairman Nandan Nilekani during an event on...

West Bengal Chief Minister Mamata Banerjee with Olympian Dipa Karmakar during...

West Bengal Chief Minister Mamata Banerjee with Olympian Dipa Karmakar during...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523