statesman news service
MUMBAI, 17 JUNE: It was business as usual on Dalal Street as brokerages and investors took the Reserve Bank of India’s unwavering credit and monetary policy stance in their stride. The markets were more attuned to global cues than the domestic worries explained in the RBI Governor Mr D Subbarao’s policy statement. However, start to the week’s stock trade has been subdued until the policy statement was released.
The selling pressure was short-lived confined to pre-policy announcement trading. The S&P Bombay Stock Exchange Sensitive Index dropped to 19,084.68 down 93.25 points and the 50-share Nifty of the National Stock Exchange declined to 5,770.25 down 36.15 points.
Both indices overcame the negative sentiment as buying in heavyweight shares lifted them in line with other bourses in the region. The 30-share Sensex closed 147.94 points or 0.77 per cent up at 19,325.87. The intra-day range was 241.19 points. Nifty ended 41.65 points or 0.72 per cent up at 5,850.05.
In Sensex 23 shares advanced and seven declined. In Nifty the ratio was 36:14. The top gainers on the BSE included M&M at Rs 989.40 (up 4.43 per cent), BHEL Rs 182.35 (at 3.37 per cent), Bharti Airtel Rs 182.35 (up 2.23 per cent) and RIL Rs 825.10 (up 1.36 per cent).