Money on the markets
A maturing market amid the mayhem
The BSE Sensex saw a choppy start today but buying by domestic funds lifted it into positive territory.
The 30-share sensitive index rose 2 percent to 9,424.24, its highest close since January 7, as domestic funds focussed on blue chips with earnings potential, such as Reliance Industries.
Investor sentiment was also boosted from higher European shares that rode a rally in drug makers.
Index heavyweight Reliance Industries rose 4.5 percent to 1,325.20 rupees, its highest close in nearly four weeks. The energy giant is expected to start gas sales in the second half of February from its large field off the east coast.
It was another bright day for Indian investors as gains across world markets allayed concerns over risk aversion and triggered short covering ahead of the expiry of monthly derivatives contracts on Thursday.