Saturday, September 14, 2013

Markets this week: Sensex gains 2.4%; L&T, Tata Power surge

September is turning out to be a good month for Indian shares, as key stock indexes extended gains in the last four sessions. Monday was a market holiday.

The BSE Sensex gained 2.4 per cent, while the broader Nifty rose nearly 3 per cent as foreign institutional investors (FIIs) extended buying into Indian equities. A recovery in the rupee, which posted its best week in 15 months, also boosted sentiment.

Profit-taking dented markets mid-week as caution also prevailed ahead of a series of macroeconomic events scheduled next week, including August inflation data due on Monday and the likelihood of US Fed\'s decision to announce a reduction in its monetary policy stimulus. RBI will review its policy on September 20.
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