 Online edition of India's National Newspaper Tuesday, Sep 09, 2008 ePaper | Mobile/PDA Version |
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MUMBAI: The benchmark Sensex on Monday surged by 461 points but missed the crucial 15000 level at close by a whisker with foreign funds and retail investors resorting to heavy buying after India on Saturday secured a waiver from the Nuclear Suppliers Group. The 30-share index, which had lost 566.03 in the previous two trading sessions, closed higher by 461.14 points, or 3.18 per cent, at 14944.97 points. The BSE barometer, however, crossed 15000 during intra-day level from the last weekend’s close 14483.83 points. Similarly, the wide-based National Stock Exchange index, Nifty rose to end at 4482.30 points. Traders said investor sentiment turned bullish after India secured a waiver from Nuclear Suppliers Group (NSG) which elevates India into the elite nuclear club.
Sensex heavyweight Larsen & Toubro, BHEL and NTPC, all power companies, gained on speculation that they would be among the biggest beneficiaries of NSG waiver. Banking and realty counters, said to be vulnerable in these high days of inflation, also closed higher by 4.06 per cent 3.17 per cent respectively after the U.S. Government took over mortgage finance firms Fannie Mae and Freddie Mac to limit extensive damage of the financial crisis. These two firms account for almost half of the U.S. home loan market. Rupee recovers 4 paiseThe Indian rupee recovered by four paise against the dollar on Monday due to fresh selling of dollars from exporters in spite of a rise in crude oil prices. In active trade at the interbank foreign exchange market, the rupee resumed higher at 44.35/36 against the last weekend’s close of 44.64/65 and firmed up further to 44.12 at one stage. However the recovery was not held and the rupee ended the day gaining four paise at 44.60/61. — PTI
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