ECB`s Bond-buying Plan helps sensex by 337 pts


riday, Sep 07, 2012

SENSEX ZOOMS 337 PTS ON ECB'S BOND-BUYING PLAN  
Led by ICICI Bank and Reliance Industries, the markets surged across-the-board on buying by funds after European Central Bank announced a potentially unlimited bond-buying plan yesterday to revive Eurozone's ailing economies. This was the biggest single-day gain in the last two months. Another reason behind today's rally was the hopes of fuel price hike. Sensex closed 17,683.73 while Nifty soared 103.70 pts to 5,342.10. Investors were richer by about Rs 85,000 cr. read more  
LEAD STORIES
MONSOON SESSION WASHED OUT; BJP DEFENDS IT  
BJP defended the washout of Monsoon Session of Parliament, saying the 2010 impasse on 2G spectrum issue led to 'cleansing' of the telecom sector. read more
OBSTRUCTIONIST POLITICS HURTING COUNTRY: PM  
PM Manmohan Singh slammed BJP, saying obstructionist politics amounts to "total negation" of democracy and is hurting efforts to revive growth. read more
OBAMA SEEKS RE-ELECTION: "HARDER PATH TO BETTER PLACE"  
President of America Barack Obama pledged to keep rebuilding a battered economy in a way that "may be harder but it leads to a better place." read more
TOP STORIES
Hershey to buy Godrej's 49% stake in Godrej-Hershey JV
TOP VIDEOS
AT A GLANCE
BSE 17683.73 +337.46
NSE 5342.1 +103.7
TURNOVER
Rs. 129,359 cr
BSE CASH
Rs. 1,805 cr
NSE CASH
Rs. 9,847 cr
NSE F&O
Rs. 106,784 cr
BULLION
GOLD 31988 +521
SILVER 63940 +1601
CRUDE
NYMEX 94.97 -0.56
BRENT 112.99 -0.5
FOREX
$ / Re 55.36 -0.3
£ / Re 88.576 -0.11
€ / Re 70.735 +0.42
EVENTS TO WATCH
8 September
BSE, NSE To Remain Open For Trading
11 September
SC To Hear Novartis Plea Over Drug Patents, New Delhi
12 July
July Industrial Output Data
14 September
August Headline Inflation
17 September
RBI Credit Policy
18 September
RBI Governor D Subbarao To Appear Before JPC On 2G
EXPERT VIEWS
"There are no immediate proposals with regard to the prices of various oil products including petrol. We are facing a tremendous crisis of unprecedented magnitude. We will have to take some difficult and painful decisions. However, there are no immediate plans."

Jaipal Reddy
Oil Minister
"We have great respect for the CAG. However, if we respect it, we should be willing to discuss its reports in the House and at the PAC. This (disruption of Parliament) is negation of democracy, violation of norms of Parliament and the Constitution as we have understood it. I would like the countrymen to make up their mind if this is the way that democracy functions."

Manmohan Singh
Prime Minister
"And now you have a choice: we can give more tax breaks to corporations that ship jobs overseas, or we can start rewarding companies that open new plants and train new workers and create new jobs here, in the United States of America."

Barack Obama
President of America

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