Press Esc to close
Monday 08 February 2016
News updated at 10:27 PM IST
Weather
Max: 32°C
Min : 18°C
In Bengaluru
Partially cloudy

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
A leopard attacks a man in a school premises in Bengaluru on Sunday...

A leopard attacks a man in a school premises in Bengaluru on Sunday...

Sand sculpture of turtles at Marina Beach as part of a 'Save a Turtle campaign'...

Sand sculpture of turtles at Marina Beach as part of a 'Save a Turtle campaign'...

Awareness about road safety rules at the launch of 'Aster SafeRoads campaign in New Delhi...

Awareness about road safety rules at the launch of 'Aster SafeRoads campaign in New Delhi...

Tourists enjoy Shikara rides at Dal Lake as tourism in J&K comes back to life after 2014 floods...

Tourists enjoy Shikara rides at Dal Lake as tourism in J&K comes back to life after 2014 floods...

Gen DS Hooda pays tribute at Jagdunath memorial on the occasion of Nowshera Day celebration...

Gen DS Hooda pays tribute at Jagdunath memorial on the occasion of Nowshera Day celebration...

Swimmer Sayani Ghosh during final round of women 400M Medley event at the 12th South Asian Games...

Swimmer Sayani Ghosh during final round of women 400M Medley event at the 12th South Asian Games...

Swimmer Sayani Ghosh (M), Shraddha Sudhir (L) and Sri Lankan swimmer JUI Silva (R), with their medal

Swimmer Sayani Ghosh (M), Shraddha Sudhir (L) and Sri Lankan swimmer JUI Silva (R), with their medal

Indian Swimmers Sajan Prakash (M), Saurabh Sangvekar (R) and Bangladeshi swimmer Mahfizur Rahman...

Indian Swimmers Sajan Prakash (M), Saurabh Sangvekar (R) and Bangladeshi swimmer Mahfizur Rahman...

Indian and Nepal women Hockey Team players in action during the 12th South Asian Games in Guwahati..

Indian and Nepal women Hockey Team players in action during the 12th South Asian Games in Guwahati..

Cyclists on a 40 kms criterium race during 12th South Asian Games, in Guwahati on Sunday...

Cyclists on a 40 kms criterium race during 12th South Asian Games, in Guwahati on Sunday...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523