Sensex gains more than points as Rajan sparks reform hopes

Image
Reuters MUMBAI
Last Updated : Sep 05 2013 | 2:35 PM IST

MUMBAI (Reuters) - The BSE Sensex rose more than 300 points and the Nifty gained over 100 points on Thursday after new Reserve Bank of India (RBI) chief Raghuram Rajan's comments on potential measures on Wednesday sparked hopes of more reforms aiding the economy and the currency.

Blue-chip shares, especially banks, jumped with NSE bank index surging 7.78 percent (at 1424 IST) after the new RBI governor announced a slew of measures to ease liquidity pressures on banks.

ICICI bank Ltd rose nearly 9 percent while Axis Bank Ltd gained about 14 percent.

The broader Nifty was up 2.16 percent while the benchmark BSE Sensex was up 1.72 percent at 1425 IST.

(Reporting by Abhishek Vishnoi; Editing by Anupama Dwivedi)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Sep 05 2013 | 2:25 PM IST

Next Story