To get the economy fully back on track, the Modi government will have to keep up the pace of efforts for the improvement of investor sentiment, climate for doing business by removing bottlenecks, employment generation and containing inflation.
Key oil and gas sector reforms like diesel deregulation and a new gas pricing policy will have a positive impact on companies engaged in fuel retailing and gas production, says a report by Fitch Ratings.
A strong rally in energy stocks following the government decision to virtually deregulate diesel prices to rein in fiscal deficit boosted investor confidence as the benchmark CNX-Nifty Thursday jumped by 37 points at the NSE.
The rupee Thursday strengthened by 30 paise to end at two-week high of 54.39 on persistent capital inflows and dollar sales following government's decision to virtually deregulate diesel prices in its continuing economic reform agenda.
The 30-share Sensex closed with a gain of 146.40 points to settle at 19,964.03 points as RIL and ONGC jumped over 3 percent each. The broad-based NSE index Nifty rose by 37.35 points, or 0.62 percent, at 6,039.20.