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Sensex up by 530 pts, 2-week-high

Sensex up by 530 pts, 2-week-high

Mumbai, Oct 7 (UN) The BSE sensex registered a massive gain of 530.50 points or 1.69 per cent at 31,814.22, a two-week-high. in the week ended yesterday on firm global cues. The Nifty of National Stock Exchange (NSE) rose by 191.10 points or 1.95 pc at 9,979.70. The equity market surged as firmness in global stocks boosted sentiment with US stocks hitting record highs on consistently improving economic data. Positive domestic economic data also perked up sentiment. Of four, the stock market remained firm for three sessions, as it was closed on Monday for 'Mahatma Gandhi Jayanti'. The Mid-Cap index gained 2.61%. The Small-Cap index advanced 3.19 pc. Both these indices outperformed the Sensex. Trading for the week started on a positive note as key benchmark indices logged modest gains on first trading day of the week on Tuesday ahead of the Reserve Bank of India's decision on monetary policy review on 4 October 2017. The sensex gained 213.66 points or 0.68 pc to settle at 31,497.38, its highest closing level since 26 September 2017. On Wednesday, it addedg another gain of 174.33 points to 31,671.71 after the RBI kept the policy repo rate unchanged at 6 pc as expected after the conclusion of the monetary policy committee meeting on that day. On Thursday it went in red as the sensex shed by 79.68 points or 0.25 pc in a volatile trade to settle at 31,592.03, its lowest closing level since 3 October 2017 as profit was seen in FMCg, Finance, Telecom and Oil Gas stocks. Erasing previous losses, the sensex bounced back by 222.19 points to 31,814.22 pts, a two week high as buying was seen across the board alongwith firm global cues. From the 30-share Sensex pack, 23 stocks rose and seven fell. More UNI NV SM1332

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