Nifty Metal index ends 2.5% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) WELSPUN CORP 141.90 126.30 15.60 12.35 NATL. ALUMINIUM 71.85 68.80 3.05 4.43 TATA STEEL 600.95 580.15 20.80 3.59 VEDANTA 222.25 215.20 7.05 3.28 HINDALCO INDS. 226.75 219.70 7.05 3.21
The S&P BSE Sensex settled at a record high of 38,279, up 331 points, while the broader Nifty 50 index closed at a new high of 11,552, up 81 points. In intra-day deals, the S&P BSE Sensex hit an all-time high of 38,340.69. The Nifty50 index, on the other hand, touched its record high level of 11,565.30.
Among sectoral indices, the Nifty Metal index ended 2.5 per cent led by rise in shares of Welspun Corp and National Aluminium Company.
Among individual stocks on the BSE, Infosys fell nearly 3 per cent after MD Ranganath, its chief financial officer (CFO), quit the IT major to pursue external opportunities. Construction and Engineering major Larsen & Toubro rose around 6.5 per cent to end at Rs 1321.
The Indian rupee spiked about 0.55 per cent to the dollar, recovering from a record low hit last week. Lower oil prices benefited the currency, particularly because India imports about 80 per cent of its crude oil needs.
Moody's says India's CAD to widen to 2.5% of GDP in FY19
(with wire inputs)