Date:30/08/2008 URL: http://www.thehindu.com/2008/08/30/stories/2008083056941600.htm

Business

Sensex zooms 516 points

MUMBAI: The Bombay Stock Exchange benchmark Sensex on Friday rose by a handsome 516 points, the biggest rise in four weeks, on good buying support sparked by a decline in inflation to 12.40 per cent from 12.63 per cent.

The 30-share Sensex, which commenced higher, added 516.19 points to close at 14564.53, a level not seen since August 5. The second wide-based National Stock Exchange index, Nifty, also spurted by 146 points to 4360 points.PSU, metal and power indices closed up by over three per cent.

Rupee drops 14 paise

The rupee dropped by 14 paise on Friday to close at nearly 17-month low level following sustained month-end dollar demand from importers as well as short covering by exporters. In a fairly active trading at the interbank foreign exchange market, the rupee settled at 43.92/93 against 43.79 on Thursday. The rupee, which resumed better at 43.71/73, fell to a low of 43.97 a dollar. . — PTI