Sensex gains 219 points; Bank, consumer durables stocks rally

New Delhi: Prime Minister Manmohan Singh's statement that neither there is intention to re-impose capital controls nor there will be reversal of reforms came as a booster for Indian equities market on Friday. The 30-share
sensex gains 219 points bank consumer durables...
India TV Business Desk 30 Aug 2013, 04:29 PM IST
New Delhi: Prime Minister Manmohan Singh's statement that neither there is intention to re-impose capital controls nor there will be reversal of reforms came as a booster for Indian equities market on Friday.



The 30-share BSE index Sensex rose 218.68 points (1.19 per cent) at 18,619.72 on Friday, while the 50-share NSE index was up 62.75 points (1.16 per cent) at 5,471.80.

Banking, consumer durables, FMCG and IT indices showed gains by rising 1.75 per cent, 1.67 per cent, 1.59 per cent and 1.45 per cent, respectively.

However, metal and realty indices were down 1.86 per cent and 0.01 per cent, respectively.

Earlier the prime minister said, “The fundamentals of the Indian economy remained strong and emphasised the bright side of a weaker currency - more competitive exports that he predicted would be further boosted by better performance in the global economy.”

On 30-share Sensex, the top five gainers were Bajaj Auto, Cipla, TCS, HDFC Bank and HUL. The losers's pack included Jindal Steel, Sesa Goa, Tata Motors, Hindalco and M&M.

Also as much as five stocks rallied to their 52-week high including Tata Consultancy Services, Wipro, HCL Technologies, MindTree and Tech Mahindra Ltd.

European stocks declined, with the Stoxx Europe 600 Index heading for a second weekly loss, ahead of a report on euro zone economic confidence.

Stoxx 50 was down 16.62 points or 0.6 per cent at 2,741.69, FTSE 100 shed 28.07 points or 0.43 per cent to 6,454.98 and DAX fell 43.94 points or 0.54 per cent to 8,150.61.

Asian shares were mixed and oil prices fell due to possible delay in Western military action against Syria.

In the Asian trade, Japan's Nikkei fell 53.35 points or 0.4 per cent to 13,406.40,Hong Kong's Hang Seng was up 26.74 points or 0.12 per cent at 21,731.50 and Australia's S&P/ASX 200 climbed 33.69 points or 0.66 per cent to 5,126.10.
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