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Sensex closes 233 pts up; bank stocks zoom
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SME Times News Bureau | 28 Feb, 2015
In a volatile session, a benchmark index of the equities markets,
the 30-scrip Sensitive Index (Sensex), provisionally ended Saturday's
trade up 233 points or 0.80 percent.
The choppy session was
caused due to the day's biggest trigger -- the Union Budget 2015-16 --
which was presented in the Lok Sabha by Finance Minister Arun Jaitley.
The
finance minister said India's real GDP growth is estimated at 7.5
percent making India the fastest-growing large economy of the world. He
also said a double-digit growth was now feasible.
Jaitley did
not change the income tax rates or increase the exemption limits for
individuals. He said the government was proposing to rationalise various
tax exemptions and incentives to reduce tax disputes and improve tax
administration.
The proposals mentioned by the finance minister made clear the government's focus on enlarging the tax-exempt investments/spend.
The
markets trade pendulumed during the budget presentation. It traded flat
just after the presentation ended and subsequently plunged around 200
points at 2.00 p.m.
Soon after, the market pared its losses and gained more than 200 points around 3.30 p.m.
The
Sensex of the S&P Bombay Stock Exchange (BSE), which opened at
29,411.33 points, closed the day's trade at 29,453.18 points
(provisional), up 233.06 points or 0.80 percent from the previous day's
close at 29,220.12 points.
The Sensex touched a high of 29,560.32
points by gaining 340.2 points and a low of 28,882.02 points losing
338.1 points in the intra-day trade.
The wider 50-scrip Nifty of
the National Stock Exchange (NSE) also made gains during the day's
trade. It provisionally ended 57.25 points or 0.65 percent up at
8,901.85 points.
Healthy buying took place in bank, healthcare, automobile, information technology (IT) and oil and gas sectors.
However,
heavy selling pressure was observed in fast moving consumer goods
(FMCG), consumer durables, capital goods, power, realty and metal
indices of the BSE.
The S&P BSE bank index rocketed by 847.28
points, healthcare index zoomed 378.27 points, automobile index
augmented by 280.98 points, IT index gained 145.37 points and oil and
gas index was higher by 92.30 points.
The S&P BSE FMCG index
plunged 352.53 points, followed by consumer durables index which was
lower by 226.23 points, capital goods index lost 104.34 points, power
index fell 25.70 points, realty index was down 24.45 points and metal
index slipped 24.40 points.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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