MUMBAI: The Bombay Stock Exchange’s sensitive index shrugged off high inflation numbers with its third consecutive day of gain and rose 81 points on strong buying in banking majors such as ICICI Bank, SBI and HDFC Bank. The Sensex ended at 17434.94 on Friday against the close of 17353.54 on Thursday.
Buying in shares of pharma major Ranbaxy, telecom giant Reliance Communications, FMCG firm HUL as well as that of L&T, Tata Motors, Jaiprakash Associates, also aided to the gain. The index rose to an intra-day high of 17497.36, after opening higher by nearly 144 points, but pared some of the gains on profit booking at higher levels in some key blue-chip stocks. The Sensex has risen by over 680 points or over four per cent in the past three trading sessions. Firm European markets at the opening and mixed Asian trend with positive bias helped Friday’s rally.
Metal and banking counters were among the major gainers. The 50-share Nifty index settled 42.45 points at 5,157.70 points.
Rupee recovers 21 paise
The rupee recovered smartly by 21 paise to 42.54/55 against the dollar following slowdown in the U.S. currency buying by oil refiners and firm equity markets, despite high inflation.
The rupee had lost 117 paise or 2.81 per cent in last four straight sessions on the back of heavy dollar buying by oil refiners and also worries over rising inflation rate. — PTI