Press Esc to close
Saturday 03 December 2016
News updated at 2:28 AM IST
Weather
Max: 26.9°C
Min : 17.6°C
In Bengaluru
Generally 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
The sunset in Kalaburgi on Friday...

The sunset in Kalaburgi on Friday...

Cricketer Yuvraj Singh and Hazel Keech during their marriage with Hindu rituals in Goa...

Cricketer Yuvraj Singh and Hazel Keech during their marriage with Hindu rituals in Goa...

Protesters throwing stones on police and CRPF amid tear smoke during a clash after Friday...

Protesters throwing stones on police and CRPF amid tear smoke during a clash after Friday...

A CRPF officer firing teargas shell at protesters throwing stones on them during a clash...

A CRPF officer firing teargas shell at protesters throwing stones on them during a clash...

A man with his son holding Kannada flag during the grand procession of 82nd Kannada Sahitya...

A man with his son holding Kannada flag during the grand procession of 82nd Kannada Sahitya...

Indias first indigenous Aircraft Carrier INS Vikrant which was undocked on completion...

Indias first indigenous Aircraft Carrier INS Vikrant which was undocked on completion...

A plane on board INS Vikramaditya during the Navy week celebrations in Mumbai...

A plane on board INS Vikramaditya during the Navy week celebrations in Mumbai...

A man transports sacks of rice in a horse-drawn cart amid the heavy fog in Allahabad...

A man transports sacks of rice in a horse-drawn cart amid the heavy fog in Allahabad...

Collecot of Nagpur Sachin Kurwe paying his last respect to the mortal remains of Nagrota martyr...

Collecot of Nagpur Sachin Kurwe paying his last respect to the mortal remains of Nagrota martyr...

Greater Flamingos fly over Chandlai Lake in Jaipur on Friday morning...

Greater Flamingos fly over Chandlai Lake in Jaipur on Friday morning...

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