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Sensex, Rupee surge on US stimulus move

Mumbai, Sep 19 (IANS) A benchmark index of Indian equities markets closed Thursday’s trade more than three-and-half percent or 684 points up after the US Federal Reserve decided to continue with its stimulus package.

The US Federal Reserve late Wednesday decided to keep buying bonds to help boost the economy, despite speculation that it would start scaling it back.

The 30-scrip S&P Sensex of the Bombay Stock Exchange (BSE), which opened at 20,354.73 points, closed at 20,646.64 points, up 684.48 points or 3.43 percent from its previous day’s close at 19,962.16 points.

The benchmark Sensex surged to a high of 20,739.69 points and a low of 20,347.30 points in the day’s trade.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) gained 3.66 percent or 216.10 points at 6,115.55 points.

Healthy buying was observed in bank, capital goods, metal, automobile and oil and gas stocks. However, information technology (IT) stocks declined in the day’s trade.

The S&P BSE bank index gained 809.27 points, capital goods index closed the day’s trade up by 374.44 points, metal index was up 305.21 points, automobile index was up 303.15 points and the oil and gas index was 246.17 points higher.

However, the IT index was lower by 32.90 points.

On the currency front, the rupee Thursday touched its highest level in a month at 61.70 to a dollar.

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