Maruti, Jindal Steel Rise in Mumbai Special Trading
India’s benchmark stock index rose in a special trading session in Mumbai today.
Jindal Steel & Power Ltd. (JSP), the nation’s biggest producer of the alloy by market value, rose 1.2 percent to 486.65 rupees. The company yesterday reported fourth-quarter profit climbed 17 percent to 11.7 billion rupees ($223 million). Maruti Suzuki India Ltd. (MSIL), the country’s biggest carmaker, rose 1.1 percent to 1,397.45 rupees ahead of its earnings today.
The BSE India Sensitive Index (SENSEX), or Sensex, rose 0.3 percent to 17,187.34 at the 12:45 p.m. close of the special session. The gauge lost 1.1 percent this week. The S&P CNX Nifty (NIFTY) Index on the National Stock Exchange of India Ltd. gained 0.4 percent to 5,209.
NSE, India’s biggest bourse, held the 90-minute session to upgrade its futures and options trading system. Both the exchanges were open for trading.
The Sensex has risen 11 percent this year as foreigners poured $8.76 billion into equities on optimism the central bank would ease monetary policy after record increases in borrowing costs slowed economic growth and eroded corporate profits.
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