STOCK MARKET CLOSING TODAY: 17TH APRIL 2012

STOCK MARKET CLOSING TODAY: 17TH APRIL 2012
The key indices started flat and remained absolutely lackluster prior to the announcement of the RBI policy at 11:00 am. There was a big spike immediately after the RBI declared the 50 bps cut in the repo rate. However, the euphoria fizzled out and the indices turned flat again before rebounding after the European markets picked up pace. US stock futures were also pointing to a higher opening while most Asian markets closed in the red amid worries about slowdown in China and Spain’s fiscal mess.

The BSE Sensex ended at 17,357, up 206 points over the previous close.

In the end, the NSE Nifty closed near 5,300, rising by more than 1%.

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