BackSensex breaks 17K; up 3.8% for the week
Sensex breaks 17K; up 3.8% for the week
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The markets ended firm on 25 April led by gains in telecom and banking sector scrips despite higher inflation figures reported by the government. The benchmark index surged 404 points or 2.4% to end the trading session at 17,125 levels. In broader markets, the Nifty moved up 112 points to 5,112 levels.
Inflation rate grew by a faster 7.33% the week ended 12 April from 7.14% in the previous week, on higher prices of food items, including jaggery and fish.
Leading the pack of gainers among the BSE 30 scrips was telecom major Bharti Airtel. The company reported a 37% jump in fourth quarter net profit to Rs18.53 billion, beating forecasts as it added more users in the world’s fastest growing mobile market. The stock firmed up 9.6% or Rs81 by close.
ICICI Bank, Bhel, HDFC Bank, ONGC, Reliance Communication, Wipro, Tata Steel, NTPC and Larsen and Toubro were some of the other notable gainers.
Among sectoral indices, the banking index, BANKEX, gained over 3%. Allahabad Bank, Axis Bank, Bank of Baroda, State Bank of India, Yes Bank and Punjab National Bank logged smart gains besides ICICI Bank and HDFC Bank.
For the week ended 25 April, the Sensex registered a gain of 3.8%, while the Nifty moved up 3%.
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