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Positive global news and hopes of a rate cut by the RBI saw the Indian markets close in the green today.
The Sensex was up at 0.73 per cent or 117.11 points and closed at 16,154.62 while the Nifty was also up 0.72 per cent or 34.75 points and closed at 4,866.
Investors are hoping that the Government will take some policy actions to ease the inflation, say analysts.
“The global scenario is much better now. The dollar is weakening. Foreign fund inflows have seen much improvement. There is value buying in selective stocks. A lot of action has been seen in PSU stocks,” said Mr Dharmesh Pancholi, Senior Manager Advisory (Equity), Sharekhan.
Tata Steel (up 7.11 per cent), Coal India (up 5.56 per cent) and L&T (up 3.84 per cent) were the top three gainers while GAIL (down 3.19 per cent), Bajaj Auto (down 2.96 per cent) and Maruti Suzuki (down 1.79 per cent) were the top three losers.
At the time of the closing of the Indian markets, the European markets were up marginally. Rupee was up at 51.49 per US dollar from the previous close.
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