Sensex rallies over 200 points on IMF outlook

NEW DELHI: The S&P BSE Sensex rallied as much as 252 points in trade on Thursday, a day after International Monetary Fund (IMF) raised its growth forecast for the current fiscal to 7.2 per cent.

However, IMF noted, a surge in global financial market volatility will be the biggest risk for India while internally inflation still remains a challenge.

Tracking the momentum, the 50-share Nifty index also managed to reclaim its psychological level of 8750, supported by gains in banks, consumer durable, metals and oil & gas stocks.

At 09:30 a.m.; the 30-share index was at 2888.62, up 228 points or 0.80 per cent. It touched a high of 28,912.96 and a low of 28,772.71 in trade today.

The Nifty was at 8766 up 66 points or 0.76 per cent. It touched a high of 8773.25 and a low of 8732.90 in trade today.

The S&P BSE Midcap Index was up 1 per cent and BSE S&P Smallcap Index edged higher by 0.84 per cent.

NTPC (up 3.8 per cent), Sesa Sterlite (up 2 per cent), HDFC (up 1.5 per cent), Tata Steel (up 1.4 per cent) and State Bank of India (up 1.2 per cent) were among the major Sensex gainers.

Wipro (down 0.61 per cent), Bajaj Auto (down 0.42 per cent), and M&M (down 0.86 per cent) were the major index losers.

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Source: economictimes

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