Wednesday, Sep 17, 2014

BSE Sensex gains most in 2 weeks, up 321pts

BSE Sensex touched day's high of 25,602.78 and closing at 25,549.72 – up 321.07 points, or 1.27 per cent. (Reuters) BSE Sensex touched day's high of 25,602.78 and closing at 25,549.72 – up 321.07 points, or 1.27 per cent. (Reuters)
Press Trust of India | Mumbai | Posted: July 16, 2014 5:12 pm

The benchmark BSE Sensex today rose 321 points, logging its best daily gain in a fortnight, led by shares of banks and infra firms after RBI eased financing norms, amid continuing signs of economic rebound.
After a higher start at 25,322.17, the Sensex touched day’s high of 25,602.78 and closing at 25,549.72 – up 321.07 points, or 1.27 per cent. This is the best single-day rise since the 325-point spurt on July 2.
Among lenders, IDFC jumped 8.70 per cent, ICICI Bank 4.70 per cent, Axis Bank 3.57 per cent, SBI 2.26 per cent and HDFC Bank 1.16 per cent. Stocks saw heavy buying after the RBI yesterday evening exempted long term bonds from mandatory regulatory norms like CRR and SLR if the money raised is used for funding of such projects.
The market sentiment remained firm after government data showed India’s exports grew by 10.22 per cent to USD 26.4 billion in June this year while imports stood at USD 38.24 billion, up by 8.33 per cent.
The Sensex had gained 221.67 points yesterday after retail inflation eased to a 30-month low of 7.31 per cent in June. WPI inflation has already softened and factory output is getting stronger, data has showed.
Brokers said easing crude oil prices, a mixed trend on the other Asian bourses and a higher opening in the European markets also influenced domestic market sentiments.
On similar lines, the 50-share National Stock Exchange index Nifty regained the 7,600-mark by rising 97.75 points, or 1.30 per cent, at 7,624.40 after touching a high of 7,640.10.
The real estate sector witnessed solid demand and its sectoral index notched up the best gain (4,28 pc) among peers.
Shares of DLF Ltd rose by 5.82 per cent, Unitech 6.82 per cent, DB Realty 5.09 per cent, HDIL 3.17 per cent, Indiabulls Real Estate 3.65 per cent, Anant Raj 4.12 per cent, Oberoi Realty 5.37 per cent and Sobha Developers 1.89 per cent.
The BSE Banking index rose 2.50 per cent, Metal index 2.20 per cent, Capital Goods index 1.51 per cent and Auto
index 1.44 per cent, among others.
Small-cap Index (2.04 per cent) and Mid-cap index (1.34 per cent) also gained as retail investors joined the
rally.

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