Sensex snaps 5-day losing streak; fertiliser stocks rally

Buoyed by a slew of reform measures announced by the government and lower-than-expected inflation data, key equity benchmarks closed Friday's session in the green, though for the week it more or less remained in a tight range.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead master your money Realasset
moneycontrol.com

Home » News » Markets » Local Markets

Dec 14, 2012, 04.55 PM | Source: Moneycontrol.com

Sensex snaps 5-day losing streak; fertiliser stocks rally

Buoyed by a slew of reform measures announced by the government and lower-than-expected inflation data, key equity benchmarks closed Friday's session in the green, though for the week it more or less remained in a tight range.

Like this story, share it with millions of investors on M3

Sensex snaps 5-day losing streak; fertiliser stocks rally

Buoyed by a slew of reform measures announced by the government and lower-than-expected inflation data, key equity benchmarks closed Friday's session in the green, though for the week it more or less remained in a tight range.

Post Your Comments

Share Cancel

15:46
Moneycontrol Bureau

Buoyed by a slew of reform measures announced by the government and lower-than-expected inflation data , key equity benchmarks closed Friday's session in the green, snapping a five-day losing streak, though for the week the market more or less remained in a tight range.

The 30-share Sensex gained 92 points to close at 19322.22, and the 50-share Nifty added 32 points to close at 5882.65.

In a big push for the reforms process, the Cabinet last evening decided on a slew of key policy issues. The Cabinet cleared the Land Acquisition bill. The bill now needs the consent of the Parliament. It also agreed to set up a cabinet committee on investment to fast-track large infrastructure projects.

Key policymakers, including the finance minister, expressed hope that these decisions will bear fruit.

Stocks in rate-sensitive sectors such as banks and real estate did well on rising hopes the Reserve Bank of India will move towards easing interest rates starting early next year.

Inflation declined to 7.24 percent in November mainly on account of lower prices of some vegetables, giving a cue to RBI to consider interest rate cut next week to promote sagging growth.

ICICI Bank provisionally rose 1.5 percent, while State Bank of India gained 2.8 percent.

Fertiliser shares rallied after the government approved a new policy to encourage investment in urea manufacturing, in a move seen expediting USD 6.5 billion in projects that have been held back. The top gainer was FACT (up 16.12 percent) followed by National Fertilizers (up 1.62 percent), Rashtriya Chemicals & Fertilizers (up 2.39 percent) and Chambal Fertilisers (0.81 percent).

14:59
Key benchmarks remained in a consolidation phase due to lack of trigger. The gains in SBI, ICICI Bank, TCS and Tata Motors were offset by fall in HDFC, HDFC Bank, Bharti, ITC and Infosys.

Read More »

13:31
Indian equity benchmarks were trading higher with marginal gains following lower than expected inflation in November, helped by banks stocks. The Bank Nifty rose 0.94 percent as country's largest lender State Bank of India rallied 2 percent while its rival ICICI Bank was up 0.92 percent.

Read More »

11:54
Equity benchmarks, which barely moved despite a slew of measures announced by the government on Thursday, reacted positively to November inflation (WPI) number, which came in lower at 7.24% against an expectation of 7.6%.

Read More »

09:52
Fertiliser shares were up in morning trade Friday even as key equity benchmarks Sensex and Nifty struggled for direction.

Read More »

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Sensex snaps 5-day losing streak; fertiliser stocks rally

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login