MUMBAI: The benchmark Sensex on the Bombay Stock Exchange closed at one-month high of 9,832.39 points on Monday on a sharp rally in realty and metal counters after trimming the handsome gains it made in early trading.
The market got a boost on anticipation of a second tranche of fiscal incentives from the government soon and the central bank cutting the key policy rates further.
The Bombay Stock Exchange 30-share barometer ended the day at 9,832.39, up by 143.32 points, or 1.47%, higher from previous close. It was only nearly 50 points short of the psychologically important 10,000 level at intra-day high of 9,948.33.
The 50-share Nifty of the National Stock Exchange also improved by 59.85 points, or 2.05%, to 2,981.20.
Brokers aid another round of rate cut by the US Federal Reserve in its forthcoming meeting helped the market to regain some of its lost ground. Expectations of US government reconsidering the bailout plan for the troubled auto industry also helps, they added.
Strong cues in Asian bourses also bolstered the sentiment here. While Asian indices ended up by about 0.5% to 5.2% on the back of some recovery on Wall Street last weekend, European markets showed signs of stability and were quoted in the green this morning.
Marketmen, however, said concerns over the sharp decline in industrial production by 0.4% in October persisted and hence some investors preferred to play safe by booking profits at every rise.
Realty stocks netted handsome gains with the sectoral index closing higher by 5.53%, followed by metal index at 5.19%. However, IT scrips continued their weakness and the index ended lower by a negligible 0.22%.
Source: http://timesofindia.indiatimes.com/Business/Sensex_ends_higher_realty_metal_soar/articleshow/3839940.cms
The market got a boost on anticipation of a second tranche of fiscal incentives from the government soon and the central bank cutting the key policy rates further.
The Bombay Stock Exchange 30-share barometer ended the day at 9,832.39, up by 143.32 points, or 1.47%, higher from previous close. It was only nearly 50 points short of the psychologically important 10,000 level at intra-day high of 9,948.33.
The 50-share Nifty of the National Stock Exchange also improved by 59.85 points, or 2.05%, to 2,981.20.
Brokers aid another round of rate cut by the US Federal Reserve in its forthcoming meeting helped the market to regain some of its lost ground. Expectations of US government reconsidering the bailout plan for the troubled auto industry also helps, they added.
Strong cues in Asian bourses also bolstered the sentiment here. While Asian indices ended up by about 0.5% to 5.2% on the back of some recovery on Wall Street last weekend, European markets showed signs of stability and were quoted in the green this morning.
Marketmen, however, said concerns over the sharp decline in industrial production by 0.4% in October persisted and hence some investors preferred to play safe by booking profits at every rise.
Realty stocks netted handsome gains with the sectoral index closing higher by 5.53%, followed by metal index at 5.19%. However, IT scrips continued their weakness and the index ended lower by a negligible 0.22%.
Source: http://timesofindia.indiatimes.com/Business/Sensex_ends_higher_realty_metal_soar/articleshow/3839940.cms
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