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Epic Research
The BSE Sensex and NSE Nifty continued to trade higher with more than 2% gains following global rally after European leaders, at EU summit on first day, moved to bring down soaring borrowing costs in Italy and Spain, helping ease fears over the region's debt crisis.
The BSE benchmark was up 418 points to 17,409 and the NSE benchmark rose 123 points to 5272. The Indian rupee appreciated by 87 paise to 55.93 against the US dollar.
Country's largest private sector lender ICICI Bank shot up 4.4% while its rival State Bank of India was up 3.37%. HDFC Bank rose 2.6%.
Reliance Industries, India's most valued stock rallied 2.6% and cigarette major ITC was up 3%.
Engineering and construction major by sales Larsen & Tourbo surged 4.2% and state-owned power equipment manufacturer BHEL jumped 5%.
Private power and steel producer Jindal Steel went up 7.5%.
France's CAC and Germany's DAX rose 2% after leaders of the 17-nation euro zone agreed the region's rescue funds could be used to stabilise bond markets without forcing countries that comply with EU budget rules to adopt extra austerity measures or economic reforms. Britain's FTSE went up over 1%.
That provided a big relief to investors in markets from commodities to equities, who had low expectations the ongoing summit of European leaders would yield concrete solutions to solve the euro zone debt crisis now running into its third year.
Precious metals like gold and silver gained 1.3% and 2%, respectively. Brent and NYMEX crude moved up 2% each.
The BSE benchmark was up 418 points to 17,409 and the NSE benchmark rose 123 points to 5272. The Indian rupee appreciated by 87 paise to 55.93 against the US dollar.
Country's largest private sector lender ICICI Bank shot up 4.4% while its rival State Bank of India was up 3.37%. HDFC Bank rose 2.6%.
Reliance Industries, India's most valued stock rallied 2.6% and cigarette major ITC was up 3%.
Engineering and construction major by sales Larsen & Tourbo surged 4.2% and state-owned power equipment manufacturer BHEL jumped 5%.
Private power and steel producer Jindal Steel went up 7.5%.
France's CAC and Germany's DAX rose 2% after leaders of the 17-nation euro zone agreed the region's rescue funds could be used to stabilise bond markets without forcing countries that comply with EU budget rules to adopt extra austerity measures or economic reforms. Britain's FTSE went up over 1%.
That provided a big relief to investors in markets from commodities to equities, who had low expectations the ongoing summit of European leaders would yield concrete solutions to solve the euro zone debt crisis now running into its third year.
Precious metals like gold and silver gained 1.3% and 2%, respectively. Brent and NYMEX crude moved up 2% each.