Press Esc to close
Saturday 30 April 2016
News updated at 8:28 PM IST
Weather
Max: 37°C
Min : 24.5°C
In Bengaluru
Sunny day

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 model walls the ramp at a fashion event in Ludhiana on Saturday...

A model walls the ramp at a fashion event in Ludhiana on Saturday...

A view of the West of Chord road, Rajajinagar 1st block Fly-Over inaugurated by Chief Minister...

A view of the West of Chord road, Rajajinagar 1st block Fly-Over inaugurated by Chief Minister...

Vehicles passing through snow bound Zojila Pass, situated at a height of 11,516 feet, on its way...

Vehicles passing through snow bound Zojila Pass, situated at a height of 11,516 feet, on its way...

An Army jawan stands guard at Zojila Pass, situated at a height of 11,516 feet...

An Army jawan stands guard at Zojila Pass, situated at a height of 11,516 feet...

The first transgander Presiding Officer Ria Sarkar in front of a Polling Station during 5th phase...

The first transgander Presiding Officer Ria Sarkar in front of a Polling Station during 5th phase...

Jawaharlal Nehru University Students' Union (JNUSU) president Kanhaiya Kumar pays tribute...

Jawaharlal Nehru University Students' Union (JNUSU) president Kanhaiya Kumar pays tribute...

Aircraft of the British aerobatics team Global Stars perform during second day of the the three-day.

Aircraft of the British aerobatics team Global Stars perform during second day of the the three-day.

People are travelling in underground stretch of the Namma Metro between the Mysuru road station...

People are travelling in underground stretch of the Namma Metro between the Mysuru road station...

The high rider-ship was evident as large number of commuters were thronging the station...

The high rider-ship was evident as large number of commuters were thronging the station...

Cricketer Virat Kohli during inauguration of a store in Hyderabad on Friday...

Cricketer Virat Kohli during inauguration of a store in Hyderabad on Friday...