Overall, 10 out of 12 BSE sectoral indices closed up. Realty, capital goods, power, metal, consumer durable and auto segments led the pack. Investor wealth rose to
The Sensex resumed strong on firm Asian cues and improved further to a new intra-day historic high of 25,644.77 before settling at 25,580.21 — also new closing peak-up by 183.75 points or 0.72 per cent. In straight three sessions, it has jumped by 774.38 points or 3.12 per cent.
Addressing a joint sitting of parliament, Indian President
Remarks on infrastructure programmes, revamping of railways and enhancing electricity generation capacity also boosted the market sentiment, sending indices to new peaks.
"Markets rose after President Mukherjee unveiled new government's economic reforms agenda, which included introducing GST, encouraging foreign investment and speeding up nods for major business projects" said
The Indian rupee yesterday washed out initial gains and logged its first drop in four sessions to end at 59.20 against the dollar on late demand for the American currency from importers.
At the Interbank Foreign Exchange (
However, the rupee met with strong resistance and dropped to a low of 59.23 on late dollar demand from importers before closing at 59.20, showing a fall of
In the previous three sessions, it went up by a total
"We now look for dollar-rupee to be at 60 by year-end 2014 (from 62), although FX policy is likely to impede INR strength . The new government's strong mandate has given rise to optimism for reforms that could unlock economic potential," wrote
Most Popular Stories
- Prosecutor to Investigate Walmart Police Shooting
- GM to Announce New Jobs in Tennessee
- Chrysler Gets Nod as a Top Employer for Hispanic Women
- Mark Sanchez Suddenly a Hot QB Commodity
- Hispanic Entrepreneurs Set Pace in Florida
- Smith & Wesson Misses Target
- Emirates Hit Libyan Targets With Airstrikes
- Marco Rubio Warns Obama on Deportations
- Laid-off Workers Return to Their Fields
- Michael Brown Funeral: Can Americans Change the Script of Violence?