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Markets close week with cheer; gains 712 points

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Guwahati: The final day of trading saw a significant rise of 712 points, as Indian equities markets continued to increase their gains.

The indices, which reached their best levels since April 29, are up more than 8% this month thanks to increases in equities of car, bank, and metal companies.

Investor morale improved as well as news that the U.S. economy contracted for a second consecutive quarter fueled optimism that the U.S. Federal Reserve could decide against making swift interest rate increases.

Sentiment has also benefited from a lack of selling and some modest purchases by overseas institutional investors.

SBI Life Insurance, which reported a greater quarterly profit, increased 9.1% and was the top gainer in the Nifty.

After announcing a 17-fold increase in quarterly earnings, GMM Pfaudler, a manufacturer of industrial equipment, saw a spike in its shares of up to 18 percent.

In relation to the dollar, the rupee rose to its highest level in over three weeks.

The final trading day of the trading session saw the Indian equities markets close with a massive gain of 712 points, continuing their upward trend.

The indices, which reached their best levels since April 29, are up more than 8% this month thanks to increases in equities of car, bank, and metal companies.

Investor morale improved as well as news that the U.S. economy contracted for a second consecutive quarter fueled optimism that the U.S. Federal Reserve could decide against making swift interest rate increases.

Sentiment has also benefited from a lack of selling and some modest purchases by overseas institutional investors.

SBI Life Insurance, which reported a greater quarterly profit, increased 9.1% and was the top gainer in the Nifty.

After announcing a 17-fold increase in quarterly earnings, GMM Pfaudler, a manufacturer of industrial equipment, saw a spike in its shares of up to 18 percent.

In relation to the dollar, the rupee rose to its highest level in over three weeks.

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