BSE index rises by 986.11 points

BSE index rises by 986.11 points

Agency News

Mumbai, Apr 17: The benchmark index of the Bombay Stock Exchange on Friday spurted by 986.11 points to close strong at 31,588.72, as RBI announced a slew of measures to inject liquidity in the financial system, along with positive global markets.

The Nifty of National Stock Exchange too rose by 273.95 points to 9266.75. The nifty registered day's high and low at 9324.00 and 9091.35, respectively. With yesterday's 222 gains, the Sensex opened on a strong note at 31,656.68, advancing by 1054 points. During the day, it registered day's high at 31,718, up by 1116 points, before closing at 31,588.72, up by 986.11 from its previous close.

The RBI stimulus to banking, NBFCs, MFIs and SMEs helped to boost the sentiment for the market and the banking sector. The sectoral indices finance, bankex, realty, energy and FMCG kept the rally intact for another day on Friday. Banking, auto and financial services were the significant gainers that rallied up to 6 per cent. Positive cues from the global markets too enthused investor sentiment here.

To revive economy, the apex bank today announced various measures. The reverse repo rate was cut by 0.25 basis points to 3.75 per cent, while repo rate kept unchanged. Earlier, the RBI announced a host of measures, including injecting Rs 50,000 crore via targeted long-term repo operations, so that banks provide more liquidity, specifically to small and midsized non-banking finance companies (NBFCs) and micro-finance institutions. Of 30 scrips, 23 were advanced, while seven declined. More (UNI)