The market has ended with some very strong gains. The Sensex
was up 728.73 points or 2.7 percent at 28075.55, and the Nifty ended up 216.60
points or 2.6 percent at 8494.15. About 1693 shares advanced, 1206 shares
declined and 322 shares were unchanged. Banks led the rally with the Bank Nifty
hitting a record high. Investors cheered the Reserve Bank of India's (RBI) surprise announcement
of a cut in its main lending rate as key equity benchmark indices surged. But,
the benchmark indices pared gains strong intraday gains towards the fag end of
the trading session.
The barometer index, the S&P BSE Sensex, the 50-unit CNX
Nifty, both, pared gains after hitting their fresh highest level in more than
five weeks. The Sensex provisionally settled below the psychological 28,000
level after moving past that mark in afternoon trade. The Sensex was
provisionally up 646.98 points or 2.37% at 27,993.80. The market breadth
indicating the overall health of the market was positive. The CNX Nifty was up
216.60 points or 2.62% at 8,494.15, as per provisional figures.
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