Market
Mumbai - India's benchmark stock market index, the BSE Sensex jumped 1.56 percent or 127.90 points on Friday as investors shrugged off concerns about gloomy economic outlook and picked up bargains.
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The 30-share market barometer opened lower at 8103.75 and briefly touched the day's low of 8047.17 before staging a steady rally as investors began picking up beaten down stocks. As trading progressed, the prime index touched the day's high of 8347.74 and finally settled at 8325.82.
Despite Friday's gain, the Sensex is still down 13.48 percent this year. The prime index closed nearly 52 percent down in 2008, a year marked by economic downturn, credit squeeze, rising inflation and high global crude prices.
Twenty-two components logged gains on Friday with the day's star being mortgage lender HDFC, which jumped 6.40 percent to close up at Rs.1223.35.
Aluminium producers Hindalco Industries and Sterlite Industries surged 4.38 percent and 1.85 percent respectively.
Technology outsourcers TCS, Wipro and Infosys Technologies soared 3.84 percent, 3.37 percent and 3.08 percent respectively.
Godrej Consumer Products (GCP) on Saturday said it has agreed to buy personal care company Tura from Nigeria's Tura Group.
Bollywood stars Shah Rukh Khan (L), Kareena Kapoor (C) and singer Akon pose at a...
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