Nifty at 9-month high

• rajesh_sangvi
• May 31, 2009

Equities opened sharply higher on Monday on the back of advances across Asia and US. All sectoral indices were trading with massive

gains, with realty and metal stocks leading the pack

Bombay Stock Exchange’s Sensex was at 14847, up 221 points while National Stock Exchange’s Nifty was trading at 4517, higher by 68.6 points.

Stocks across Asia picked up steam buoyed by encouraging manufacturing data from China. The Nikkei rose 0.75 per cent, Topix added 0.95 per cent, Hang Seng picked up 1.53 per cent and Straits Times climbed 1.23 per cent.

US stocks advanced on Friday on the back of rising commodity prices which boosted
shares of natural resource companies. The Dow Jones Industrial Average gained 96.53
points, or 1.15 per cent, to 8,500.33. The Standard & Poor’s 500 Index climbed 12.31 points, or 1.36 per cent, to 919.14 and the Nasdaq Composite Index rose 22.54 points, or 1.29 per cent, to 1,774.33.

Meanwhile, oil prices climbed 1 percent to hit a fresh seven-month high on Monday on expectations for a global economic recovery which boosted equity markets. US light, sweet crude was trading at $66.97 a barrel, 66 cents higher. News beuro,

• Last Modified: May 31, 2009
• Filed Under: Latest News, MARKETS, NATION, WORLD