Web Analytics Business News This Week BSE Sensex gains 87 pts and Nifty 36 pts This Week | Business News This Week

Mar 8, 2015

BSE Sensex gains 87 pts and Nifty 36 pts This Week

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The Benchmark Indices – BSE Sensex and NSE Nifty – retreated from their record highs struck after the Reserve Bank of India (RBI) cut key interest rates, as the initial excitement proved to be short-lived on the back of historic profit-taking, though crawled back to end modestly higher during the holiday shortened week.

A steady stream of buying excitement following the growth-oriented Budget proposals helped the stock markets to maintain its strong rallying momentum initially with investors’ sentiment surpassing Dallal street expectations. Robust foreign institutional investors’ appetite for Indian stock along with positive economic momentum and expectations that the much awaited insurance and coal mines bill will get the Lok Sabah nod also supported general mood.

The unabated buying frenzy charged up further the RBI eased policy rates by 25 basis points to 7.5 per cent on Wednesday. Its second inter-meeting cut this year on the back of easing inflation. The move witnessed benchmark indices scaling new highs. It was a memorable moment for the Indian stock markets as both BSE Sensex and NSE Nifty 30,000 and 9,100 milestone respectively with massive wave of buying spree. But the enthusiasm has proved short lived.

The two major events this week – the Union Budget 2015-16 and rate cut by RBI helped stock markets to cherish but the momentum could not last till the weekend. On Friday, the stock markets were closed on account of Holi festival.

Sun Pharmaceutical emerged as the best Sensex performer this week.

The BSE Sensex opened firmly higher 29,533.42 points and fluctuated between a higher of 30,024.747 points and a low of 29,162.47 points before finishing at 29,448.95 points, posting a gain of 87.45 points or 0.30 per cent.

NSE Nifty also overpowered a new peak of 9,119.20 points and a fresh low of 8,849.35 points before rebounding to finish at 8,937.75 points, showing a rise of 35.90 points or 0.40 per cent this week.


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