Sensex up on hopes of financial measures
The Bombay Stock Exchange (BSE) rose 1 per cent on Tuesday, a bounce back from heavy losses in the previous session, as hopes that the government would increase diesel prices as the first step to improve its finances.
Major reasons behind the huge dump in shares that sent the rupee to a record low in May were slowing policy reforms and perceptions of the government hampered by an unruly coalition.
However, investors are being cautious due to the continued euro zone debt crises and ahead of a Federal Policy meeting sending domestic-oriented shares such as cigarette maker ITC higher.
The 30-share BSE index rose 0.9 per cent to 16,859.80 points, recovering a bulk of its 1.4 per cent loss on Monday after the RBI disappointed markets by keeping interest rates unchanged.
The broader 50-share NSE index rose 0.8 percent to 5,103.85 points.
To read more real estate news:
RBI hiked Home Loan Interest for the 11th Time
Source: Business Standard
Bombay Stock Exchange, cigarette maker ITC, diesel prices, euro zone debt, Federal Policy meeting, heavy losses, increase diesel prices, Investors, slowing policy reforms, unruly coalition
[...] Sensex up on hopes of financial measures [...]
[...] Sensex up on hopes of financial measures [...]