Mumbai, September 17: The Bombay Stock Exchange benchmark Sensex on Friday surged by 177 points to touch a fresh 32-month high as investors shrugged off the impact of yesterday’s rate hike by the RBI amid a firming global trend.
With a seven-day rally broken by an 84 point decline in yesterday’s choppy session, the Sensex bounced back today by adding 177.26 points to 19,594.75, a level last seen in January, 2008.
Similarly, the broad-based National Stock Exchange index Nifty rose by 56.25 points to 5,884.95, within sight of the 5,900-mark.
Marketmen said that reports of higher advance taxes paid by corporates helped investors overlook the Reserve Bank of India’s hike of borrowing and lending rates yesterday to tighten the monetary policy, making loans more expensive.
A firming trend in the Asian region and a higher opening in Europe further drove the market upward.
—Agencies