MUMBAI, OCT 10: The S&P BSE benchmark Sensex and CNX Nifty ruled firm for the second consecutive week on the back of higher global cues stoked by the possibility of a US rate hike delay.
The Sensex resumed higher at 26,379.42 and shot up further to a high of 27,200.44 before finishing at 27,079.51, showing a gain of 858.56 points. It has gained 1,216.01 points in two weeks.
The 50-share Nifty too went up by 238.80 points to 8,189.90, registering a gain of 321.20 points in two weeks.
Minutes of the last Federal Reserve meeting released showed that officials were largely hesitant to hike rates due to worries about global economy.
Sentiments were also upbeat as a number of banks announced reduction in base rates following 50 basis points cut in the repo rate by the Reserve Bank of India.
Investors’ sentiments also gained strength from Prime Minister Narendra Modi’s statement that the GST will be rolled out in 2016 as planned.
