Mumbai: The 30-share BSE Sensex surpassed the 18000 level quite smartly in late trade on Wednesday, for the first time since February 23, 2012. Favourable German's Constitutional Court ruling has lifted the mood of not only global markets but also commodities.
The Sensex rose 147.08 points to close at 18,000.03, aided by the upmove in Tata pack, metals, FMCG, oil & gas and banks stocks. Meanwhile, the Nifty climbed 41 points to 5,431.
European markets gained strength, immediately after the Germany's Constitutional Court said the country can ratify the euro zone's new rescue fund and budget pact as long it can guarantee there will be no increase in German financial exposure to the bailout fund without parliament's approval.
Ruling that an injunction against the European Stability Mechanism (ESM) and fiscal compact was largely unfounded, the court said one condition for allowing ratification was that any increase in German liability beyond 190 billion euros (USD 244.77 billion) must first be approved by the Bundestag lower house of parliament.
France’s CAC rose 0.7 per cent and Germany’s DAX was up 1 per cent while Britain’s FTSE gained 0.3 per cent. Currencies against the US dollar also appreciated. Euro rose 0.57 per cent to 1.2928 a dollar while Indian rupee went up by 17 paise to 55.17 against the US dollar.
Commodities too gained momentum; Gold jumped 0.7 per cent to USD 1744.55 an ounce and copper was up by 0.5 per cent. Brent crude moved up 0.8 per cent and NYMEX crude gained 0.7 per cent.
Comments
0 comment