M A I N   N E W S

Sensex zooms 623 points

Mumbai, March 1
The Bombay Stock Exchange Sensitive Index, the Sensex, climbed 3.5 per cent on Tuesday. The 30-share BSE index closed up 623.10 points at 18,446.50 points, with all of its components advancing.

Financial stocks led gains as worries of higher interest rates eased after a lower-than-expected government borrowing plan, while automobile stocks rose as sales at top automakers continued to gain ground.

“There were several positive signals in the Budget in terms of economic growth, tackling inflation and opening up to foreign investors,” said KK Mital, head of portfolio management services at Globe Capital.

“The mood of investors seems to have changed and we are seeing a pullback in sectors that were beaten down in the past few weeks.” — Reuters