Sensex ends 5-day losing streak, gains 88 points
Quotes

Sensex ends 5-day losing streak, gains 88 points

Last Updated: Friday, December 14, 2012, 16:52
 
 Comment 0
 
Sensex ends 5-day losing streak, gains 88 points
Mumbai: The BSE benchmark Sensex today recovered by 88 points today on rising investors confidence after wholesale inflation eased, raising hopes of an interest rate cut next week.

Snapping a five-day long decline, the 30-share index gained 87.99 points, or 0.46 percent, to 19,317.25.

After a lower start, the gauge erased some of the 1.3 percent losses in the last five days.

The broad-based National Stock Exchange index Nifty rose by 28.10 points, or 0.48 percent, to 5,879.60.

Brokers said the easing inflation raised hopes that the Reserve Bank of India would cut interest rate in its quarterly policy meet next week.

They said the sentiment further bolstered as Finance Minister P Chidambaram said some more steps will be taken in next few weeks to turn around the economy.

Inflation declined to 7.24 percent in November mainly on account of lower prices of some vegetables, giving a cue to RBI to consider interest rate cut next week to promote sagging growth.

In 30-BSE index components, 14 stocks gained led by Reliance Industries, Jindal Steel, ICICI Bank, Hindalco, State Bank of India and Sterlite Industries.

The metal sector gained the most by 2.31 percent to 10,569.90 followed by banking index 1.27 percent to 14,264.80 as investors felt any further boost to the economic reforms would push up these sectors.

PTI



First Published: Friday, December 14, 2012, 16:52


Comments


comments powered by Disqus
G20 Summit 2014
G20 Summit 2014
2014`s Top People in Business: Fortune
2014`s Top People in Business: Fortune
World Bank`s Top 10 Places for Business
World Bank`s Top 10 Places for Business
India`s top ten billionaires
India`s top ten billionaires
Top 10 billionaire cities- In Pics
Top 10 billionaire cities- In Pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved