The
market ended on strong note. The Sensex was up 247 points or 0.9 percent at 28446.
The Sensex touched a high of 28,478 points and a low of 28,245 points in the
intra-day trade. ended at 3-month closing highs amid a broad-based
rally led by financials after the cabinet today approved composite caps in
several sectors. and the Nifty was up 85 points or 0.9 percent at
8608. About 1552 shares advanced, 1266 shares declined, and 165 shares were
unchanged. The rally mood that started with Iran reaching a deal with the
world powers which would allow the country to sell its crude without sanction,
govt supported with Petroleum Minister Dharmendra Pradhan’s statement that
International oil prices will come down with the imminent lifting of sanctions
against Iran and benefit India.Hopes of an RBI rate cut, cheaper oil imports and possibility of further
delay in US lending rate hike propelled a barometer index of the Indian
equity markets to provisionally close with gains of more than 275 points on
Thursday.The 30-scrip sensex of the Bombay Stock Exchange provisionally closed
with gains of over 275 points or 0.98 percent.The wider 50-scrip Nifty
of the National Stock Exchange also closed in the green with over 84 points
or 0.99 percent up at 8,608.05 points.Meanwhile, the narrowing of trade deficit
coupled with strength in the global peers after Greek parliament approved the
austerity reforms boosted investor sentiment.
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