The Indian benchmark index breached the 9K level after a further fall in inflation numbers. Inflation fell for the fourth successive week, raising strong hopes of a rate cut. Inflation rate slipped for the fourth week in a row to 8.40 per cent for the week ended November 22 against 8.84 per cent in the previous week. Realty, capital goods and banking stocks contributed to the gains. BSE Sensex closed higher by 482.32 points at 9,229.75 and NSE Nifty ended up by 131.55 points at 2,788.
The money markets have already factored in a rate cut, with yields on 10-year bond yields already falling below 7 per cent. The rate cut expectations have buoyed the rate-sensitive stocks like realty and banking. The realty index on the BSE ended with increase of more than 12 per cent while capital goods index has jumped over 6 per cent on the forthcoming stimulus plan announcement. All these sectoral indices on the BSE ended in the green.
Among the Sensex stocks, JP Asso has jumped over 13 per cent on the impending stimulus plan announcement. DLF and Tata Motors were also up over 13 per cent while RIL has advanced over 8 per cent. Asian markets were mixed on December 04 as investors waited for key interest rate decisions in Europe later in the day and braced for more bad news from Friday''s U.S. jobs report. Oil prices fell to fresh three-year lows.
The money markets have already factored in a rate cut, with yields on 10-year bond yields already falling below 7 per cent. The rate cut expectations have buoyed the rate-sensitive stocks like realty and banking. The realty index on the BSE ended with increase of more than 12 per cent while capital goods index has jumped over 6 per cent on the forthcoming stimulus plan announcement. All these sectoral indices on the BSE ended in the green.
Among the Sensex stocks, JP Asso has jumped over 13 per cent on the impending stimulus plan announcement. DLF and Tata Motors were also up over 13 per cent while RIL has advanced over 8 per cent. Asian markets were mixed on December 04 as investors waited for key interest rate decisions in Europe later in the day and braced for more bad news from Friday''s U.S. jobs report. Oil prices fell to fresh three-year lows.
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