Date:17/06/2008 URL: http://www.thehindu.com/2008/06/17/stories/2008061756231500.htm

Business

Sensex gains 206 points

MUMBAI: Strong global cues boosted investor sentiment on the Bombay Stock Exchange on Monday and the benchmark Sensex closed the day higher by 206 points, riding on the back of an upsurge in realty, bank and IT stocks.

The 30-share BSE barometer closed the day at 15395.82, a rise of 206.20 points over its previous close. The Sensex had opened the day stronger by 325 points.

Inflation, which hit a seven-year high of 8.75 per cent for the week ended May 31, has forced the RBI to raise repo rate by 25 basis points last week.

Rupee steady

The rupee failed to hold on to early gains and closed steady at 42.9450/9550 against the dollar on Monday as the demand for U.S. currency from oil importers strengthened.

At the interbank foreign exchange market, the rupee moved in a range of 42.88 and 42.98 during the day after resuming stronger at 42.90/92 against its last weekend’s close of 42.94/95. — PTI