Biggest monthly gain in 17 years

>> Saturday, May 30, 2009

Equity benchmarks ended at an eight-month high on Friday, as the better-than-expected economic data for the previous quarter led investors to believe that the worst may be over.

Oil minister Murli Deora’s comments that the government may consider deregulation of retail fuel prices also boosted sentiment.

BSE’ 30-share Sensex closed at 14625.25, up 329.24 points, or 2.3%, enabling the index to post its highest monthly gain (28%) since 1992 and the third-highest ever.

NSE’s 50-share Nifty ended at 4448.95, up 111.85 points, or 2.58%. The bull domination extended to the broader market, with gainers thrashing losers 2147:649 on BSE.

On Friday, foreign institutions net bought Indian shares worth Rs 272.77 crore while their domestic counterparts were buyers worth Rs 873 crore, according to provisional NSE data.
Source : Economic Times