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Sensex stages smart rally
MUMBAI:
Impressive growth in industrial output coupled with falling crude oil prices helped the Bombay Stock Exchange sensitive index stage a smart rally on Thursday, lifting the benchmark Sensex by over 184 points to close at 12537.98.
This is the second highest closing for Sensex after the all-time peak of 12612.38 it touched on May 10 this year.
India's industrial output grew by 9.7 per cent in August as compared to 7.6 per cent in the same month last fiscal. The sentiment was also boosted by oil prices touching lowest levels of the year in Asian trade. Crude oil prices fell to $57.58 a barrel this morning.
The positive factors triggered hectic shortcovering by foreign institutional investors and retail investors, who were earlier unwilling to make any fresh commitments. — PTI
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