Sensex up 84.43 points on CRR cut
Mumbai - Arabstoday
Erasing most of the early gains, the BSE Sensex ended just 84.43 points up at 17,587.67 on Monday, despite 7-month high growth in factory output and RBI’s move to infuse liquidity in the cash-starved financial system. Banking, auto, capital goods, consumer durables and Metals sectors attracted strong buying. Gains were largely on account of the Reserve Bank’s move late Friday to cut by 75 basis points the Cash Reserve Ratio (CRR) that would increase liquidity. The 50-scrip S&P CNX Nifty similarly closed higher at 5,359.55 points, up 26 points.
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