Taking cues from global markets, stock markets gained smartly on Monday.
The Bombay Stock Exchange benchmark 30-Share Sensitive Index (Sensex) gained 215.03 points or 1.25 per cent to close at 17412.96. The rally was led by oil and gas stocks , automobiles and banks. However, technology, information technology and FMCG stocks ended in the negative territory. BSE-100 gained 1.07 per cent and BSE 500 was up by 1 per cent.
On the National Stock Exchange, the 50-Share Nifty closed up by 66.85 points or 1.28 per cent. Finance Minister P. Chidambaram’s statement later in the day helped the market to end on an optimistic note. The rupee closed at 55.52 per dollar compared to its previous close of 55.75. In the intra-day it touched a high of 55.23.
Reliance shares up
Reliance Industries’ shares were up by Rs. 42.40 (5.71 per cent) to Rs 785.30 accompanied by huge volumes. There were reports that the company has agreed to share the accounts of its KG-D6 block with the Government. The surge was also due to reports that the benchmark Singapore gross refining margins have strengthened to $8 a barrel on an average. The company had been awarded A+ level for its sustainability report 2011-12. The report was presented by GRI (Global Reporting Initiative), Amsterdam. It takes into account guidelines laid down by the American Petroleum Institute and the International Petroleum Industry Environmental Conservation Association.