Equity indices reverse losses to close higher; Nifty reclaims 11,000 (Second Lead)
Monday - October 1, 2018 4:32 pm ,
Category : BUSINESS
Equity indices reverse losses to close higher; Nifty reclaims 11,000 (Second Lead)
Mumbai Oct 1 (IANS) Recovering from the day s losses the key Indian equity indices settled in the green on Monday with the S&P BSE Sensex closing 299 points higher and the Nifty50 reclaiming the 11 000-mark.
Buying picked up around the last hour of trade on the back of the Central government s decision to intervene in the IL&FS issue. The government on Monday moved to the National Company Law Tribunal to change the management of the beleaguered financial services company IL&FS.
Further encouraging data from the manufacturing sector also helped the market rise analysts said.
The Nikkei India Manufacturing Purchasing Managers Index released on Monday was recorded at 52.2 in September from 51.7 in August.
At 3.30 p.m the wider Nifty50 on the National Stock Exchange provisionally closed at 11 008.30 points higher 77.85 points or 0.71 per cent from its previous close.
The S&P BSE Sensex which opened at 36 274.25 points closed at 36 526.14 points up 299 points or 0.83 per cent from its previous close of 36 227.14 points.
It touched an intra-day high of 36 616.64 points and a low of 35 960.65 points.
--IANS rrb/nir
Buying picked up around the last hour of trade on the back of the Central government s decision to intervene in the IL&FS issue. The government on Monday moved to the National Company Law Tribunal to change the management of the beleaguered financial services company IL&FS.
Further encouraging data from the manufacturing sector also helped the market rise analysts said.
The Nikkei India Manufacturing Purchasing Managers Index released on Monday was recorded at 52.2 in September from 51.7 in August.
At 3.30 p.m the wider Nifty50 on the National Stock Exchange provisionally closed at 11 008.30 points higher 77.85 points or 0.71 per cent from its previous close.
The S&P BSE Sensex which opened at 36 274.25 points closed at 36 526.14 points up 299 points or 0.83 per cent from its previous close of 36 227.14 points.
It touched an intra-day high of 36 616.64 points and a low of 35 960.65 points.
--IANS rrb/nir
