Sensex at 32-month high

By : Reuters
Last Updated: Thu, Sep 09, 2010 20:40 hrs

The Sensex had its best week in six months, rising 0.7 per cent to its highest close in almost 32 months on Thursday as rapid growth expected in Asia's third-largest economy drew investors. The market is closed on Friday for a local holiday.

Financials such as the State Bank of India, ICICI Bank and HDFC Bank led the gains as fund managers bet the sector would benefit from a booming domestic economy, which is expected to expand 8.5 per cent in the FY11.

The 30-share BSE index closed up 0.71 per cent or 132.95 points at 18,799.66 with 18 components rising. It had hit 18,823.17 points intra-day, its highest since February 2008.

The benchmark ended the week up 3.2 per cent, its best weekly performance since early March.

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