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Sensex gains 1.5 pct; Maruti net drops

April 24, 2009

The Sensex ended the week on a positive note, closing 1.7 percent higher, as increased investor confidence helped boost sentiment.

The benchmark closed 194.06 points higher at 11,329.05 while the Nifty ended 1.6 percent higher at 3480.75.

The rise in the Sensex was led by Bharti Airtel, Reliance Industries and ICICI bank. INDIA

On the sectoral front, the BSE Banking index gained 2.7 percent. This was followed by the Consumer Durable index which was up 2.3 percent. All indices closed in positive territory.

Maruti Suzuki India, reported a 18.5 percent drop in quarterly net profit, missing forecast. Shares in Maruti ended 0.33 percent lower at 802.25 rupees.

Foreign direct investment (FDI) into India is expected to be at least $40 billion in the year to March 2010, a senior industry ministry official said.

The Sensex has now risen for the seventh week in a row. Do you think the upswing would also continue next week?

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