The Hindu : Business : Sensex gains on robust economic growth

Online edition of India's National Newspaper
Friday, Dec 01, 2006
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Sensex gains on robust economic growth

MUMBAI: Buoyed by faster economic growth and strong Asian cues, the Sensex jumped by 80 points on Thursday even as investors preferred to roll over positions to December series.

On the last day of derivatives contract, the Sensex fluctuated in a range of 13745.16 and 13630.58 as operators tried to roll over long positions following high-growth momentum in the economy. The Sensex later ended at 13696.31, a net rise of 79.58 points or 0.58 per cent over Wednesday's close of 13616.73. The broader S&P CNX Nifty of the National Stock Exchange gained 26.30 points or 0.67 per cent to close at 3954.50 from the previous close of 3928.20.

The Indian economy recorded the highest growth of 9.1 per cent in first six months of this fiscal on the back of high growth in manufacturing and services sectors. Economy grew by a robust 9.2 per cent in the second quarter of 2006-07. Anticipating major impact of the robust GDP growth in new contract, the expiry of November contract on Thursday forced players to roll over long positions to next series during the trading session.

PTI

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