Twitter

Facebook

Youtube

Pintrest

RSS

Hindi News | Samay | UP/Uttarakhand | MP/Chhattisgarh | Bihar/Jharkhand | Rajasthan | Aalami Samay
Sensex surges to 6-week high on US Fed comments
Last Updated : 11 Jul 2013 05:48:25 PM IST
Sensex
Sensex closes on a high (File Photo)

 

The key S&P BSE Sensex surged two per cent on Thursday.

Sensex closed at a six-week high of 19,676.06, tracking global stock markets that were boosted by US Federal Reserve Chief Ben Bernanke's comments on continuing monetary stimulus.

The 30-share gauge opened higher, following firm Asian cues, and rallied to 19,723.51. At the close, it added 381.94 points to 19,676.06, the highest level since 19,760.30 reached on May 31. It dropped 0.75 per cent on Wednesday, July 10.

Trading sentiment was bolstered after Bernanke last night signalled that the monetary stimulus would continue for some time, boosting the prospects of fund flows to the emerging markets, brokers said. The Fed's bond-buying programme, which has flooded global markets with  liquidity, has helped support an array of assets, including equities.

Cautious investors picked fundamentally strong stocks ahead of the earnings season, starting tomorrow with first-quarter results from Infosys.

Nifty gains   
The broader Nifty index on the National Stock Exchange gained 118.40 points, or 2.04 per cent, to close at 5,935.10. The SX40 index of the MCX-SX closed 211.03 points, or 1.83 per
cent, higher at 11,744.81.

Investors were richer by nearly Rs 1 lakh crore as overall 1,358 stocks rose while 974 declined on the BSE platform.

"Indian markets rallied strongly, propelled by comments from Mr. Bernanke," said Sanjeev Zarbade, Vice President - Private Client Group Research, at Kotak Securities. "Going ahead, we have the Infosys numbers. While the recovery in markets is comforting, crude oil has again firmed up...We remain concerned on this front.?

Rupee weaker
The rupee, which rose to a one-month high in early trade, erased those gains to close marginally weaker at 59.67 against the dollar.

Overall, 12 of the 13 sectoral indices gained, adding between 0.55 per cent and 3 per cent, with metals, banking, realty, capital goods, refinery and PSU segments taking the lead.

The major Sensex gainers included HDFC Bank, ITC, HDFC, TCS, Reliance Industries, ICICI Bank, L&T, ONGC, Bharti Airtel, Infosys and SBI.


Post Your Comment (0 posted):
Post your comment Post Your Comments
Your name :
Your e-mail address :
Your website :
Add your comments :
Please enter the code you see in the image:
Code

super luxury car maker Rolls-Royce is gearing up to tap the country's Billionaires with ne

Coming-of-age drama 'Boyhood' won three of the biggest awards at the BAFTA 2015 but it was

Sunny Leone is seen scorching the screen in the first look of Leela with her bold acts.

Samsung unveiled the Galaxy S6 and Galaxy S6 Edge at Mobile World Congress in Barcelona, S

Reality TV star Kim Kardashian reportedly wants Beyonce to buy a house in her gated commun

Automaker Renault India today said it will roll-out a multi-purpose vehicle 'Lodgy' and a

Indian cricket captain Mahendra Singh Dhoni is busy with the ICC Cricket World Cup while h

Elizabeth "Betty" McIntosh, an American spy girl who was stationed in India for a few yea

iPhone maker Apple has emerged as the largest 4G LTE device vendor in India.


Samay Live

Samay Live

 

Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live

10.10.70.54