Sensex ends day with 500-point-plus gain

Sensex ends day with 500-point-plus gain
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First Published: Fri, Aug 29 2008. 04 23 PM IST
Updated: Fri, Aug 29 2008. 04 23 PM IST
New Delhi: The Bombay Stock Exchange benchmark ended the day on a string positive note, notching up a gain of 516.19 points to 14,564.53 on the back of heavy buying by funds and retail investors.
Sentiment on the street on 29 August got a boost from encouraging inflation numbers—the indicator had eased to 12.40% after five weeks of consistent rise.
Traders also ignored the news of an economic slowdown. GDP growth slipped to 7.9% for the first quarter of the current fiscal, compared with 9.2% in the corresponding quarter the previous year.
Banking stocks lead the gains on the street with State Bank of India posting a 7.19% rise to Rs1,403.60. Other top gainers of the day included Reliance Energy (5.97%, Rs991.15), ICICI Bank (5.93%, Rs671.50) and Tata Motors (5.44%, Rs440.35).
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First Published: Fri, Aug 29 2008. 04 23 PM IST
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