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Close: Sensex advances 2.3% on positive economic data

Close: Sensex advances 2.3% on positive economic data
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First Published: Fri, May 29 2009. 10 41 AM IST
Updated: Fri, May 29 2009. 06 06 PM IST
New Delhi: The Bombay Stock Exchange (BSE) sensitive index, or Sensex, closed higher on Friday as the investors sentiment was boosted by the positive economic data.
Indian stocks on Friday posted their 12th consecutive weekly gain for the first time in four years.
The Sensex closed 329 points, or 2.30%, up at 14,625.25. The National Stock Exchange (NSE) 50-share index Nifty ended 111.85 points higher at 4448.95.
Indian economy grew 5.8% in the fourth quarter of the fiscal year 2009 versus the 5.3% in the third quarter ofFY09, as the strong services sector offset the decline in the manufacturing sector.
In the morning trade the domestic sharemarkets opened 1% higher in tandem with firm Asian peers and US stocks. The US Dow Jones on Thursday ended 1.3% up as the tensions in the US bond markets eased.
And in the afternoon trade the markets surged more than 2%.
By 12:55 pm, the 30-share BSE index was up 349.63 points, or 2.45%, at 14,651.06, with 27 stocks advancing. The Nifty was up 2.82% at 4,459.60.
Oil shares rose higher, led by the Reliance Petroleum and the state-run ONGC, after the oil minister Murli Deora announced that he will push for the freer oil price policy.
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First Published: Fri, May 29 2009. 10 41 AM IST
More Topics: Sensex | Nifty | BSE | NSE | Markets |