Friday, September 28, 2012

BSE sensex, nifty, and the rupee uptrend!

The Friday NSE nifty and BSE sensex performance saw a boost amid much anticipation. Thanks to global influence! Hopes of implementation of economic reforms in Spain for managing of debt imbalances have led to this uptrend. It was the IT market that showed the highest price rise dynamics, given the fact about Spain outsourcing IT services from India. While the BSE sensex rose 183.24 points to close at 18,762.74, the nifty added 53.80 points climbing to the 5,700 level.

Markets also showed a positive upbeat with the rupee rising to a near five-month high on Friday (28 September). Thanks to improvement of global risks sentiment. Further signs of economic discipline are being shown as a result of the same with the government sticking to its original borrowing plan. An amount of 2 trillion rupees is estimated to be borrowed for October-March. Fast tracking of fiscal and economic reforms by the government has indeed increased the value of the rupee.

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