Cloudy
1°CThu :Cloudy. High: 2 Low: -1

BSE Sensex gains for third day, ONGC, ICICI Bank shares surge

BSE Sensex gains for third day, ONGC, ICICI Bank shares surge

SE Sensex rose over 1 percent on Friday to mark its highest close in nearly a month, as bank stocks continued to rise after the central bank’s slew of measures unveiled by new Governor Raghuram Rajan, while oil and gas company ONGC’s shares rose on hopes of a diesel price hike.

ICICI Bank provisionally rose 7.6 percent while Oil & Natural Gas Corp (ONGC) ended 5.2 percent higher.

The benchmark BSE index provisionally rose 1.33 percent, while the broader NSE Nifty ends 1.44 percent higher, gaining for a third consecutive session on Friday.

Dipen Shah, Head- Private Client Group Research, Kotak Securities: Markets were volatile but ended the week on a high with gains of about 4% on benchmarks. The intention and initiatives of the new RBI Governor helped in changing the sentiments on the currency and equity markets. Banking stocks and other rate sensitive stocks were the major gainers and as a natural corollary, defensive sectors like IT and FMCG under-performed.

The recent appreciation in the Indian rupee against US dollar has improved market sentiments. There are expectations of additional dollar flows into the country, which has created optimism on the rupee. Equity markets have reacted on cues from the currency markets. We need to improve the investment climate and make it attractive for more funds to flow in. Further initiatives on the rupee and on fiscal reforms will help in taking the markets higher. In the near term, the decision of the US Fed on withdrawal of quantitative measures will influence the movement of the rupee.”

 

Top Stories

Gautam_Gulatijpg_2_hvqpe

Bigg Boss 8: Gautam Gulati is the champ, say HT perusers

January-30-2015
Mainstream reality show Bigg Boss 8 is all situated for its excellent finale on January 31. Over the recent days, we saw
Microsoft_ap_2294854f

Microsoft dispatches new Outlook application for ios, Android clients

January-30-2015
Taking Gmail and other email applications head on, Microsoft has dispatched another Outlook application for ios and Android gadgets. The new application
vijender_2294869f

Harmed Vijender hauls out of National Games

January-30-2015
Star Indian boxer Vijender Singh has hauled out of the 35th National Games beginning tomorrow in the wake of neglecting to recuperate
modi_twitter-624x351

PM Modi’s locations e-Governance gathering on Twitter, pushes for versatile first methodology

January-30-2015
In a to start with, Prime Minister Narendra Modi today decided to deliver his comments to the eighteenth National Conference on e-Governance
ayushmann

Hawaizaada Review: Ayushmann stars in an illogical and exhausting film, flies around in batsuit

January-30-2015
Hawaizaada cases to be the story of Shivkar Talpade, a Maharasthrian researcher from the 1860s, who apparently manufactured the world’s initially unmanned
arvind-kejriwal

Get prepared to serve Delhi and make it ok for ladies: Arvind Kejriwal to AAP unit

January-30-2015
New Delhi: In an endeavor to activate the Aam Aadmi Party unit, AAP boss Arvind Kejriwal on Thursday spoke to his gathering