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  • Sensex gains 206 pts on easing inflation, firm global cues

    Published on February 17, 2011

    The Bombay Stock Exchange benchmark Sensex rose for the fifth straight session on Thursday adding nearly 206 points to close at 18,506.82 on funds buying amid easing food inflation and firm global trends.

    The Sensex, which gained 840 points in the past four trading sessions, jumped another 205.92 points to 18,506.82 on reports that food inflation fell to a two-month low, easing concerns about sharp interest rate hike.

    Food inflation fell for second time in a row to 11.05 per cent for the week ended 5th February from 13.07 per cent in the previous week.

    The gauge, the worlds worst performer this year after Egypt, has lost 12 per cent from a 5th November  record, as the Reserve Bank of India raised interest rates seven times within a year to curb inflation.

    The broad-based National Stock Exchange index Nifty also rose by 64.75 points to 5,546.45, with stocks in interest sensitive sectors like bank, capital goods and auto recording handsome gains.

    A firming trend in the Asian region and higher opening in Europe further supported the uptrend.

    Key indices in the Asian stock markets rose to a one-week high, as increased forecast for the US economic growth from the Federal Reserve, and improving earnings, bolstered investor confidence.

    The capital goods index gained the most by rising 1.93 per cent followed by banking index by 1.50 per cent.

    The metal sector index rose by 0.70 per cent.