INSUBCONTINENT EXCLUSIVE:
Across-the-board buying backed the sharp gains in the markets
Domestic stock markets clocked sharp
gains on Friday, rising for a second straight day, after a report by news agency Reuters said that the government is likely to exempt
foreign portfolio investors from higher taxes triggered a surge in the markets
The S-P BSE Sensex index rose as much as 460.18 points in afternoon deals to 37,787.54, and the broader NSE Nifty benchmark climbed to
11,178.55, up 146.1 points from the previous close
Buying across most sectors, led by financial, auto, metal and energy, pushed the markets higher
At 12:52 pm, the Sensex traded 416.67 points - or 1.12 per cent - higher at 37,744.03, while the Nifty was up 136.65 points - or 1.24 per
Here are five things to know:Top percentage gainers on the 50-scrip index at the time were Indiabulls Housing Finance,
Vedanta, Bajaj Finserv, Eicher Motors, Grasim, Bajaj Finance and Maruti Suzuki India, trading between 2.94 per cent and 11.25 per cent
Reuters quoted Deven Choksey, a promoter at KR Choksey Investment Managers, as saying in a report
"Obviously, this will slow down selling by foreign investors because they are the ones who have been relentlessly selling in the markets."In
loss of Rs 400 crore ($56.77 million) if it withdraws the higher taxes on foreign portfolio investors, amid news of falling sales and job
cuts among automakers and other manufacturers.Across-the-board buying backed the sharp gains in the markets, with the NSE Nifty Banking,
Financial Services, Auto and Metal sectoral indexes spiking as much as 1.75 per cent, 2.16 per cent, 2.26 per cent and 1.43 per cent
respectively.The rupee appreciated by as much as 25 paise - or 0.35 per cent - against the dollar on Friday, extending its upmove for a
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