Press Esc to close
Sunday 26 October 2014
News updated at 2:29 AM IST
Weather
Max: 27°C
Min : 19.2°C
In Bangalore
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
Mrs. Komal Kalra Pagarani who is all set to represent India...

Mrs. Komal Kalra Pagarani who is all set to represent India...

Fire at Balaji Studio Killick Nixon Studios in Mumbai...

Fire at Balaji Studio Killick Nixon Studios in Mumbai...

Sikh religious warriors, display their horse-riding skills at an event organized to celebrate...

Sikh religious warriors, display their horse-riding skills at an event organized to celebrate...

Bollywood actor Shatrughan Sinha with his family during Amitabh Bachchan's Diwali party in Mumbai..

Bollywood actor Shatrughan Sinha with his family during Amitabh Bachchan's Diwali party in Mumbai..

Sachin Tendulkar and his wife Anjali with Abhishek Bachchan during Bachchans' Diwali party...

Sachin Tendulkar and his wife Anjali with Abhishek Bachchan during Bachchans' Diwali party...

Narendra Modi clicks photographs during the Diwali Mangal Milan programme at BJP headquarters...

Narendra Modi clicks photographs during the Diwali Mangal Milan programme at BJP headquarters...

Nitin Gadkari leaves after meeting RSS Chief Mohan Bhagwat at RSS headquarters in Nagpur...

Nitin Gadkari leaves after meeting RSS Chief Mohan Bhagwat at RSS headquarters in Nagpur...

Brother & Sister take holy dip in river Yamuna on the occasion of Bhai Dooj...

Brother & Sister take holy dip in river Yamuna on the occasion of Bhai Dooj...

Dhoni talks to Hockey India player Ashunta Lakra during launch of hockey team in Ranchi...

Dhoni talks to Hockey India player Ashunta Lakra during launch of hockey team in Ranchi...

Brother of Thailand's Prime Minister Payap Shinawatra takes part in Robe...

Brother of Thailand's Prime Minister Payap Shinawatra takes part in Robe...

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