Sensex ends 550 points up; realty, banks surge

Sensex ends 550 points up; realty, banks surge
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First Published: Mon, Nov 03 2008. 03 52 PM IST
Updated: Mon, Nov 03 2008. 03 52 PM IST
Livemint.com
New Delhi: The markets ended firm, with sentiment buoyed by the central bank’s cuts in an interest rate and reserve requirements over the weekend.
The 30-share BSE Sensex gained 550 points or 5.6% to end at 10,338 levels. It had touched a high of 10,373 levels in intra-day deals.
Leading the pack of gainers among the Sensex scrips was Reliance Infrastructure that vaulted over 17% to Rs535 levels.
DLF Limited, State Bank of India, Ranbaxy Laboratories, Jaiprakash Associates, Larsen and Toubro, Hindustan Unilever, ICICI Bank and Tata Motors also registered strong gains.
Strength was also visible in capital goods scrips with Reliance Industrial Infrastructure moving up over 25%. Areva T&D, Lakshmi Machine Works, Punj Lloyd, Everest Kanto, Crompton Greaves, Siemens Limited, Elecon Engineering were some of the other notable gainers besides Larsen and Toubro.
Most banking scrips logged gains after the Reserve Bank of India (RBI) cut key rates over the weekend. Yes Bank (up 14.4%), State Bank of India (11.8%), Kotak Mahindra Bank (9.8%), Federal Bank (9.2%) and ICICI Bank (7.9%) ended in the green.
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First Published: Mon, Nov 03 2008. 03 52 PM IST
More Topics: Stocks | Reserve Bank | CRR | Sensex | Money Matters |