Market rings in New Year with style, Sensex soars 339 pts
The US Senate approved an agreement on Tuesday to help the world's biggest economy avert the fiscal cliff. The deal boosted the world stock markets, including the Indian bourses.
The proposal would extend tax rates on annual household income under USD 4,50,000 and postpone automatic spending cuts for two months.
Barring FMCG index, which closed in the red, other sectoral indices gained between 0.96 per cent and 5.19 per cent during the week with realty, PSU, oil & gas and consumer durable leading the pack.
The Bombay Stock Exchange 30-share barometer showed a weak trend on the first day of the week, but then went on a gaining spree to settle up 339.24 points, or 1.74 per cent, at 19,784.08, a level not seen since January 6, 2011.
Similarly, the wide-based S&P CNX Nifty of the NSE spurted by 107.80 points, or 1.82 per cent, to settle above 6,000 level for the first time