Business News
Indian stocks gain over 3 per cent
Dec 21, 2011, 11:53 GMT
New Delhi - India's share markets gained more than 3 per cent Thursday, ending a five-day losing streak.
The benchmark 30-share index on the Bombay Stock Exchange closed at 15,685.21 points, up 510.13 points or 3.36 per cent above Tuesday's close.
The broader 50-share S&P CNX Nifty on the National Stock Exchange closed 3.28 per cent up at 4,693.15 points, or 148.95 points over its previous close.
The gains were attributed to positive cues from global markets and profit taking.
The Sensex had dropped by 25 per cent since January as investors pulled out on concerns over a slowdown of industrial growth, runaway inflation and rising interest rates.
The bleak global economic outlook and the eurozone debt crisis also impacted Indian markets.
All sectors closed positive Thursday, led by banking. Other major gainers included consumer durables, oil and gas, auto, information technolgy and metal sectors.
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