European Agreement Enthuses Global Bourses, Sensex Up 490 Points
Friday, 28 October 2011, 20:02 IST
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Mumbai: An agreement among the euro zone countries over augmenting measures to curb the economic crisis in the region has boosted investor sentiment across the globe. Indian markets too rose, with a key index ruling 490 points higher. The 30-scrip sensitive index (Sensex) of the BSE, which opened higher at 17,671.86 points, rose within minutes to rule at 17,778.84 points, up 490.01 points or 2.83 percent from its previous close at 17,288.83 points. It had risen to an intra-day high of 17,908.13 points in the morning trade. Also, hopes of an end to the rate tightening cycle by the Reserve Bank of India boosted investor sentiment at the bourses. The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading higher, 144.5 points or 2.78 percent up, at 5,346.3 points. Broader markets were also in the green with the BSE 500 index up 2.25 percent. The BSE midcap index was up 1.31 percent, while the BSE small cap index was ruling 0.94 percent higher. Indian markets had been closed Wednesday, except for an hour-long muhurat trading session, and Thursday on account of holidays. Among major Sensex gainers at this time were: Hindalo, Sterlite, ICICI Bank, Tata Motors, L&T and DLF. There were no losing stocks on the 30-scrip index. Asian markets stocks too rose, buoyed by the European deal which is aimed at reducing Greece's massive debt and preventing a sovereign debt crisis from spreading to other countries in the Euro zone. The Japanese Nikkei Thursday closed 1.39 percent higher at 9,050.47 points, while Hong Kong's Hang Seng was trading 1.89 percent up at 20,061 points. The Chinese Shanghai composite index was ruling 1.05 percent higher at 2,461.21 points.
Source: IANS
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