Money on the markets
A maturing market amid the mayhem
This was the benchmark’s eighth successive rise — its longest winning streak in 18 months.
The rise was led by heavyweight stocks like Reliance Industries (up 3.1 percent), ICICI Bank (up 6.7 percent) and L&T (up 6.6 percent).
Infosys Technologies, the country’s second-largest software services exporter, declared its fourth quarter numbers today. It reported a higher-than-expected 29 percent jump in profits but forecast its first decline in annual revenue as demand from overseas clients slowed.
The Sensex seesawed in early trade today but managed to close 0.57 percent higher, tracking gains in Asian and European markets.
The BSE Sensex today crossed the psychological mark of 10,000 and ended 446 points higher, its best close in nearly five months, guided by strong Asian and European markets.
The benchmark index ended at 10,348.83, while the 50-share Nifty ended 150.7 points higher at 3,211.05.
Reliance Industries surged more than 5 per cent on reports the company has started pumping gas from the KG basin, which at full throttle will nearly double India’s gas output.
The Sensex managed to close 2 percent higher today despite short covering, helped by increased buying by funds and strong Asian markets.