Press Esc to close
Sunday 29 May 2016
News updated at 3:04 PM IST
Weather
Max: 33.2°C
Min : 22.3°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
Students celebrate their success after CBSE announced its 10th class results...

Students celebrate their success after CBSE announced its 10th class results...

A Group of Bengaluru Mothers getting prepared for the Babywearing dance to be held next month...

A Group of Bengaluru Mothers getting prepared for the Babywearing dance to be held next month...

Volunteers clean Tapi river to celebrate the completion of two years of Modi government...

Volunteers clean Tapi river to celebrate the completion of two years of Modi government...

Madras Regimental jawans jubilate after winning the Dakshin Bharat Area Cross Country Championship..

Madras Regimental jawans jubilate after winning the Dakshin Bharat Area Cross Country Championship..

Congress workers shave their heads at a protest on NDA Governments' second anniversary...

Congress workers shave their heads at a protest on NDA Governments' second anniversary...

Bollywood actress Shraddha Kapoor during shoot of her upcomming movie 'OK JAANU'...

Bollywood actress Shraddha Kapoor during shoot of her upcomming movie 'OK JAANU'...

Former Australian pacer Geoff Lawson interacts with recently selected young pacer...

Former Australian pacer Geoff Lawson interacts with recently selected young pacer...

Crowds pack the Canaveral National Seashore Friday, to witness the liftoff of a SpaceX...

Crowds pack the Canaveral National Seashore Friday, to witness the liftoff of a SpaceX...

Union Minister of Finance Arun Jaitley paying floral tribute to Vinayak Damodar Savarkar...

Union Minister of Finance Arun Jaitley paying floral tribute to Vinayak Damodar Savarkar...

Prime Minister Narendra Modi with artists tries his hands at a drum in Heritage Mawphlang...

Prime Minister Narendra Modi with artists tries his hands at a drum in Heritage Mawphlang...

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