Sensex up 98 points on FDI liberalisation

The Bombay Stock Exchange benchmark sensex Wednesday rose by nearly 98 points led by gains in bluechips, including HUL, NTPC and Wipro, buoyed by government’s decision to liberalise FDI norms in a dozen sectors.

The 30-share index started the day on a firm footing at 19,970.02, higher by 118 points from Tuesday’s close. It, however, erased some of the early gains during the day and closed 97.50 points, or 0.49 per cent higher at 19,948.73.

Sensex had closed down by 183.25 points in the previous session.

Similarly, the wide-based National Stock Exchange index Nifty gained 18.05 points, or 0.30 per cent, to close at 5,973.30.

Brokers said the market sentiment was boosted after the government on Tuesday announced to hike foreign direct investment (FDI) in a dozen sectors, including 100 per cent in telecom and higher caps in insurance and defence sectors, to boost the sagging economy.

They said a better earning by companies like Infosys and HDFC Bank for the first quarter further supported the uptrend.

A firming trend in the Asian region ahead of Federal Reserve chairman Ben S. Bernanke’s address to the US Congress, further influenced the sentiment, they added.

Out of the 30 BSE components, 15 stocks ended higher led by Hindustan Unilever rising 9.86 per cent to Rs 684.75, followed by NTPC (3.18 per cent) and Wipro (2.96 per cent).

Sectorwise, the fast moving consumer goods sector index led the gains rising 3.39 per cent to 7,400.33, followed by consumer durables (1.10 per cent) and IT sector (1 per cent).

Post new comment

<form action="/comment/reply/243456" accept-charset="UTF-8" method="post" id="comment-form"> <div><div class="form-item" id="edit-name-wrapper"> <label for="edit-name">Your name: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="60" name="name" id="edit-name" size="30" value="Reader" class="form-text required" /> </div> <div class="form-item" id="edit-mail-wrapper"> <label for="edit-mail">E-Mail Address: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="64" name="mail" id="edit-mail" size="30" value="" class="form-text required" /> <div class="description">The content of this field is kept private and will not be shown publicly.</div> </div> <div class="form-item" id="edit-comment-wrapper"> <label for="edit-comment">Comment: <span class="form-required" title="This field is required.">*</span></label> <textarea cols="60" rows="15" name="comment" id="edit-comment" class="form-textarea resizable required"></textarea> </div> <fieldset class=" collapsible collapsed"><legend>Input format</legend><div class="form-item" id="edit-format-1-wrapper"> <label class="option" for="edit-format-1"><input type="radio" id="edit-format-1" name="format" value="1" class="form-radio" /> Filtered HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Allowed HTML tags: &lt;a&gt; &lt;em&gt; &lt;strong&gt; &lt;cite&gt; &lt;code&gt; &lt;ul&gt; &lt;ol&gt; &lt;li&gt; &lt;dl&gt; &lt;dt&gt; &lt;dd&gt;</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> <div class="form-item" id="edit-format-2-wrapper"> <label class="option" for="edit-format-2"><input type="radio" id="edit-format-2" name="format" value="2" checked="checked" class="form-radio" /> Full HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> </fieldset> <input type="hidden" name="form_build_id" id="form-6a99c15e6ad061764c2282465dd24804" value="form-6a99c15e6ad061764c2282465dd24804" /> <input type="hidden" name="form_id" id="edit-comment-form" value="comment_form" /> <fieldset class="captcha"><legend>CAPTCHA</legend><div class="description">This question is for testing whether you are a human visitor and to prevent automated spam submissions.</div><input type="hidden" name="captcha_sid" id="edit-captcha-sid" value="63818534" /> <input type="hidden" name="captcha_response" id="edit-captcha-response" value="NLPCaptcha" /> <div class="form-item"> <div id="nlpcaptcha_ajax_api_container"><script type="text/javascript"> var NLPOptions = {key:'c4823cf77a2526b0fba265e2af75c1b5'};</script><script type="text/javascript" src="http://call.nlpcaptcha.in/js/captcha.js" ></script></div> </div> </fieldset> <span class="btn-left"><span class="btn-right"><input type="submit" name="op" id="edit-submit" value="Save" class="form-submit" /></span></span> </div></form>

No Articles Found

No Articles Found

No Articles Found

I want to begin with a little story that was told to me by a leading executive at Aptech. He was exercising in a gym with a lot of younger people.

Shekhar Kapur’s Bandit Queen didn’t make the cut. Neither did Shaji Karun’s Piravi, which bagged 31 international awards.