Diwali cheer in markets, stocks end at new 17-month high

Diwali cheer in markets, stocks end at new 17-month high
PTI
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First Published: Fri, Oct 16 2009. 04 54 PM IST
Updated: Fri, Oct 16 2009. 04 54 PM IST
Mumbai: Samvat 2065 ended on Friday on a cheerful note as the Bombay Stock Exchange benchmark Sensex rose by 127 points, with funds buying into banking and realty stocks.
Marketmen said investors are optimistic of robust corporate earnings and a swifter economic recovery.
The Sensex closed higher by 127.62 points at 17,322.82 supported by handsome gains in banking, realty and refinery stocks.
Brokers said second quarter earnings announced by corporates so far are encouraging.
Banking stocks attracted buying ahead of RBI’s monetary policy review later this month.
State Bank of India rose by 5.30% and private lender ICICI Bank by 2.41%.
Marketmen said investors were enlarging their positions for gains on the first day of trading in Samvat year 2066 that begins on Saturday.
The bourse will have a token one-hour muharat trading tomorrow.
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First Published: Fri, Oct 16 2009. 04 54 PM IST
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