Press Esc to close
Friday 20 January 2017
News updated at 1:01 PM IST
Weather
Max: 27.6°C
Min : 15.8°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
Bollywood actress Soha Ali Khan taking selfie with the newly launched Samsung C9 Pro mobile...

Bollywood actress Soha Ali Khan taking selfie with the newly launched Samsung C9 Pro mobile...

Camel-mounted BSF soldiers participate in rehearsal for the Beating Retreat ceremony...

Camel-mounted BSF soldiers participate in rehearsal for the Beating Retreat ceremony...

Students form a human chain to display VOTE at an awareness campaign Jalandhar...

Students form a human chain to display VOTE at an awareness campaign Jalandhar...

Children holding national flags as they ride on a modified motorcycle ahead of the Republic...

Children holding national flags as they ride on a modified motorcycle ahead of the Republic...

Workers busy installing flower pots as part of the Republic Day Flower show at Glass House...

Workers busy installing flower pots as part of the Republic Day Flower show at Glass House...

Workers busy installing flower pots to make Peacock shape as part of the Republic Day Flower show...

Workers busy installing flower pots to make Peacock shape as part of the Republic Day Flower show...

The final touch work is going in full swing at as part of the Republic Day Flower show at Glass...

The final touch work is going in full swing at as part of the Republic Day Flower show at Glass...

Jagjot Singh Rubal, an Indian artist, gives final touches to a portrait...

Jagjot Singh Rubal, an Indian artist, gives final touches to a portrait...

Members of Hindu Sena, a right-wing Hindu group, place a garland on an poster...

Members of Hindu Sena, a right-wing Hindu group, place a garland on an poster...

PWD labourers paint the statue of Netaji Subhash Chandra Bose at Shymabazar in Kolkata...

PWD labourers paint the statue of Netaji Subhash Chandra Bose at Shymabazar in Kolkata...

Like us on Facebook

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