After languishing in the red for the first half of the trading session, markets bounced back in the afternoon session. Expectations of a stimulus package and hopes of further rate cuts catapulted the markets. BSE Sensex closed higher by 215 points and NSE Nifty closed higher by 65 points. BSE Midcap and Smallcap indices also closed higher, up by 1.5% and 1% respectively. While stocks from metal and banking sectors emerged as key gainers, stocks from the auto sector were amongst the losers. Rupee closed at 48.48 against the US dollar. While Asian markets closed in the green, the European indices are also trading in the positive currently.
Monday, December 29, 2008
Closing Market watch: Sensex ends above 9500; ICICI Bank, HDFC surge
After languishing in the red for the first half of the trading session, markets bounced back in the afternoon session. Expectations of a stimulus package and hopes of further rate cuts catapulted the markets. BSE Sensex closed higher by 215 points and NSE Nifty closed higher by 65 points. BSE Midcap and Smallcap indices also closed higher, up by 1.5% and 1% respectively. While stocks from metal and banking sectors emerged as key gainers, stocks from the auto sector were amongst the losers. Rupee closed at 48.48 against the US dollar. While Asian markets closed in the green, the European indices are also trading in the positive currently.
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