Sensex Rises 100 Points On Higher Growth Prospects

MUMBAI: The 30-share bellwether BSE Sensex was trading 100 points higher after a news report by the International Monetary Fund (IMF) said that India’s economy is on its way to faster growth.

At 9.28am, the Sensex was trading up 0.46 percent, or 103.11 points, to 22,446.56 points, while the National Stock Exchange’s (NSE’s) broader 50-share Nifty was trading higher by 0.5 percent, or 33.7 points, to 6,725.75 points.

The International Monetary Fund (IMF) believes the Indian economy will recover this year. In its latest report, IMF predicts that the Indian economy will expand 5.4percent in 2014-15 and accelerate to a pace of 6.4 pervent the following year.

The gainers included Sun Pharmaceuticals Industries Ltd that jumped 2.68 percent to Rs.587.25 and Sesa Sterlite Ltd that rose 2.34 percent to Rs.194.4.

Among the losers, Bharat Heavy Electricals Ltd (Bhel) fell 3.32 percent to Rs.177.85, while ICICI Bank Ltd slipped 1.73 percent to Rs.1,209.05.

The BSE metal index was the top sectoral gainer, up 0.24 percent. The realty index was the top loser on BSE, down 1.37 percent. The consumer durables and power indices were down 1.24 percent and 0.69 percent, respectively.

Maruti Suzuki India Ltd was trading at Rs.1,881.4 on BSE, down 1.18 percent from its previous close, after PTI reported that the company may recall about 100,000 units of its compact sedan DZire to replace a faulty fuel tank part.

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