human development

Sustained buying by funds and retailers amid a firming trend in the Asian region helped the BSE Sensex gain.

At 10.17 am, Sensex was up 143.66 at 18705.36. Similarly, Nifty was up 49.55 points at 5694.60 during the same time.

The 30-share barometer added 160.74 points, or 0.87 per cent, to 18,722.44 with stocks of realty, auto, banking and healthcare sectors leading the rise. The index had gained over 130 points in the previous two sessions.

The wide-based National Stock Exchange index Nifty moved up by 44.85 points, or 0.79 per cent, to 5,689.90.

Brokers  trading sentiment remained firm on continued buying by funds and retail investors largely on encouraging earnings and a firming trend in the Asian region, tracking Wall Street's gains on strong US economic data.

Stocks of Wipro shot up by 1.44 per cent to Rs 366.60 after the company reported a jump of 23.8 per cent in consolidated net profit for the second quarter.

In the Asian region, Hong Kong's Hang Seng rose by 1.02 per cent, while the Japan's Nikkei by 1.31 per cent in early trade on Friday. The US Dow Jones Industrial Average ended 1.04 per cent higher on Thursday.

The Sensex erased initial gains and fell 195 points on Tuesday after RBI kept key interest rate unchanged and lowered economic growth estimate to 5.8 per cent for 2012-13, from 6.5 per cent projected earlier.
A fall in interest-linked banking, realty and auto stocks mainly influenced the trading sentiment.

Marketmen  investors ignored RBI move to reduce the cash reserve ratio - the percentage of deposits banks keep with the Reserve Bank - by 0.25 per cent to infuse additional liquidity that will inject Rs 17,500 crore into the financial system.


CRR now stands at 4.25 per cent.
The Sensex, which had opened with gains on investor hopes of interest rate cuts, fell following the policy announcement to trade at 18,441.26 -- showing a decline of 194.56, or 1.04 per cent at 1151 hrs. The broad-based National Stock Exchange index Nifty was down by 68.15 points to 5,597.45.


 The government seems miffed with the Reserve Bank of India (RBI) not cutting rate in its policy review today. The central bank kept interest rates unchanged despite government coming out with a fiscal consolidation plan a day before the policy. The RBI cut the Cash Reserve Ratio by 25 basis points.




"Growth is as much a challenge as inflation. If government has to walk alone to face the challenge of growth then we will walk alone," Finance minister P Chidambaram said after the monetary policy.

Chidambaram's five-year plan to repair government finances

"Government is doing its best to send the clear message that we are on the path of fiscal consolidation. It is govt. hope that everyone will read and understand the government commitment to path of fiscal consolidation.




Deputy chairman of the planning commission Montek Singh Ahluwalia was also disappointed that the central bank had not cut rates.