Sensex breaches 17k level on CRR cut

The Indian benchmark indices breached 17k level, market reacted positively after RBI cuts CRR by 50 basis points and repo rates were left untouched.

At 3.30 pm IST, the 30-share BSE Sensex was trading at 16,751.73 up by 214.72 points or 1.28%, it touched intraday high of 17,050.32 and NSE Nifty was trading at 5116.50 up by 70.25points or 1.39%.

Asian market remained closed on account of holiday.

Among sectoral indices on BSE, most of the sectors were trading in positive terrain. Capital goods, Bankex, Metal, Auto were leading the rally.

On the National Stock Exchange (NSE), the top volume gainers were L&T, IDFC, JP Associates, Hindalco posted gains between 4.48%-5.93%

And the loser in todays trade were Grasim, Coal India, DLF, Sun Pharma, Hindustan Lever.

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