Sunday, 10 July 2011

Sensex shoots up 201 points

Sensex shoots up 201 points

MUMBAI: The Bombay Stock Exchange sensitive index Sensex, moved up by 201.41 points on Wednesday gaining over 1,100 points in its five-day winning streak to close at two-month high of 18693.86 on heavy FII (foreign institutional investor) inflows, amid government reiterating that the economy will grow at 8.5 per cent. Besides, short-coverings ahead of Thursday's settlement of derivative contracts for June and strong cues from overseas markets, helped the equities move up. FIIs, key drivers behind the current rally, have remained net buyers in the last few days, picking up shares worth Rs. 819.41 crore on Tuesday as per the provisional exchange data. The broad-based National Stock Exchange index Nifty traded above the 5600-mark by adding 55.15 points to settle at a two-month high of 5600.41.

On the global front, most major stock markets ended in the green amid hopes that Greek debt crisis would ease soon. CNI Research CMD Kishor Ostwal said some clarity on Greek's front, amid investors hope that austerity measures demanded by international lenders would be approved by its Parliament, boosted global sentiment.

Rupee gains 17 paise

The rupee on Wednesday appreciated by 17 paise to close at a one-week high of 44.86/87 against the U.S. currency on sustained foreign fund inflows amid selling of dollars by exporters. The rupee ended at 45.03/04 on Tuesday. — PTI

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