Sep 06, 2010
-
Indian Stock Exchange
-
Indian Stock Exchange
-
Indian Stock Exchange
Indian shares shot to a 31-month high and ended at 1.9 percent higher on Monday. This is their best single-day percentage-point gain in more than three months tracking global stocks, as concerns about the world's largest economy facing a double-dip recession faded after encouraging U.S payrolls data. The benchmark index rose as much as 2.1 percent to 18,600.30 points it’s highest since February 2008. The benchmark index is up to 6.3 percent so far in 2010, with foreign funds investing a net $13 billion in Indian equities, including primary market offerings.
Lenders contributed the most to the gains, as investors placed bets on bullish loan demand outlook in the world's second-fastest growing major economy after China. The 30-share BSE index gained 1.86 percent or 338.62 points to 18.560.05, with 26 of its components closing in the green.
