Sensex ends 1.47% up on foreign buying

Sensex ends 1.47% up on foreign buying

Mumbai: The benchmark Sensex closed 1.47% higher on Monday, December 15, as foreign funds buying continued.

Other factors that kept the bullish sentiment intact were the rising Asian markets and the latest announcement of slashed interest rates on home loans between Rs5-20 lakh by PSU banks.

The 30-share BSE index ended 142.32 points higher at 9,690.07 points with Reliance industries and IFCI Limited trading the maximum volume.

The 50-issue NSE index rose 59.85 points up at 2,981.10. The Nifty also touched 3,000 mark in late morning trading, its first high in months since the meltdown began.

India Infoline maintained a lead in Monday’s trade rising 24.51% to Rs48, followed Welspun Guharat Sthal Rhoren Limited (21.06%, Rs119.55), Gujarat Mineral Development Corporation Ltd (20%, Rs38.10) and Biocon Ltd (18.12%, Rs121.75).

Indian rupee also opened at its one-month high. Asian markets traded on renewed hopes of US automakers bailout. Hang Seng rose by 2% and Japsn’s Nikkei closed 5.21% higher.