Home ECONOMY Banking sector boosts markets; Sensex up 409 points

Banking sector boosts markets; Sensex up 409 points

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Mumbai, July 31:

Capital infusion in banks, clarity on retrospective tax on capital gains and expectations of a rate cut by the apex bank cheered investor sentiments and boosted Indian equity markets on Friday.

Sensex UpThe positive cues propelled the barometer 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE) to provisionally close the day’s trade up by 409 points or 1.48 percent.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also made gains and provisionally closed 111 points or 1.32 percent up at 8,532.85 points.

The S&P BSE Sensex, which opened at 27,814.51 points, provisionally closed at 28,114.56 points (3.35 p.m.) — up 409.21 points or 1.48 percent from the previous day’s close at 27,705.35 points.

The Sensex touched a high of 28,161.17 points and a low of 27,814.51 points in the intra-day trade. (IANS)