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Indian sensex surges 128 points
February 7, 2014, 6:46 am

Foreign investors bought 107.5 million rupees worth of Indian shares on Thursday [AP]

Foreign investors bought 107.5 million rupees worth of Indian shares on Thursday [AP]

Rising to a one-week high, India’s benchmark BSE(Bombay Stock Exchange) Sensex surged nearly 128 points in early trade on Friday, extending gains for the fourth straight session.

Sustained buying by funds amid a firm trend on other Asian bourses helped Indian stocks rally. Foreign investors bought 107.5 million rupees worth of Indian shares on Thursday.

The 30-share index, which had gained 101.48 points in the previous three sessions, rose further by 127.87 points, or 0.63 per cent, to 20,438.61, with stocks of healthcare, realty and metal sectors leading the rise.

The revised GDP data for 2013/14 fiscal year, ending March 31, will be released on Friday around 12 GMT. The Indian Finance Minister will present an interim budget for the coming fiscal year in parliament on February 17 as the nation is gearing up for general elections slated in April this year.

The economic growth of Asia’s third largest economy is likely to accelerate 5.6 per cent in 2014-15 from the projected growth of less than five per cent in the current fiscal ending March, according to economic think-tank NCAER.

For the current financial year India’s GDP growth is expected to remain in the range of 4.7 to 4.9 per cent, the National Council of Applied Economic Research (NCAER) said in a report on Thursday.

 

 TBP and Agencies

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