Sensex Reclaims 28,000-Mark Amid Firm Global Cues, Nifty Crosses 8,500

Tuesday, March 31, 2015
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MUMBAI: The benchmark Bombay Stock Exchange (BSE) index Sensex regained the 28,000-mark by surging over 106 points in early trade on Tuesday, the last session of the 2014-15 financial year, on the back of a rally in metals, oil & gas, consumer durables, IT and healthcare sector stocks amid a firming trend overseas.

Brokers said sustained buying by foreign funds and retail investors, triggered by a firming trends at other Asian markets after China's decision to ease mortgage rules fuelled hopes for further stimulus measures, and overnight rally in US markets helped the key indices to regained their crucial levels.

Besides, the Reserve Bank of India (RBI) allowing banks to utilise up to 50 per cent of their provisioning buffer towards making specific provisions for bad loans or non-performing assets, as against the earlier 33 per cent, influenced domestic trading sentiments, they added.

The 30-issue BSE barometer rose by 106.25 points (or 0.37 per cent), to trade at 28,082.11. The gauge had surged by 518.28 points in the past two sessions.

Besides, the broader 50-share National Stock Exchange (NSE) index Nifty also reclaimed the 8,500-level by surging 35.60 points (or 0.41 per cent), at 8,527.90.

Among other Asian markets, Hong Kong's Hang Seng rose by 0.53 per cent while Japan's Nikkei gained 0.65 per cent in early trade on Tuesday.

The US Dow Jones Industrial Average ended 1.49 per cent higher in Monday's trade.

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Source: PTI
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