The Hindu Business Line : Sensex on a bull run, up 362 pts

Taking global cues
Key benchmark indices in Asia were up as the Fed left interest rates unchanged at 5.25%
Banking stocks were among the top gainers of the day

Mumbai March 22 Indian stock markets took cues from the firm global markets today as sustained buying in banking, capital goods and auto stocks took the Sensex to 13308.03, up 2.8 per cent or 362.15 points from its previous close.

The Sensex started the day with a 126-point jump at 13,072 and continued to rise throughout to touch an intra-day high of 13,326.24. The NSE Nifty gained 111.35 points to close at 3875.9 compared to the previous close of 3764.55.

" The US Federal Reserve's decision not to change the interest rates has cheered market sentiments," according to Mr Lalit Thakker, Director (Research), Angel Broking. Key benchmark indices in Asia were up between 0.39 and 2 per cent as the Fed left interest rates unchanged at 5.25 per cent.

Banking stocks were among the top gainers of the day as the proposed 3-day strike was called off on Wednesday .

The interest rates in the call money eased on Thursday to 10 per cent against 60-70 per cent in the past two days, while the bond prices gained by 66 paise, dealers said. In the forex market, the rupee, which had gained considerably in the last few sessions, lost 35 paise against the dollar.

Equity market

In the equity market, 1,658 stocks advanced while 933 stocks declined and 84 stocks ended unchanged.

The BSE Bankex was the top gainer of the day, up 4.31 per cent at 6827.35.