Equities end green on rate cuts, Manmohan's assurance

Mumbai, Nov 3 (IANS) Indian equities finished in the green Monday following weekend measures by the central bank to reduce interest rates and boost liquidity and Prime Minister Manmohan Singh's assurance to industry leaders that the government will take all necessary steps to protect the economy from the global financial turmoil.

The markets opened strong with a key equity index more than 400 points higher than its previous close Friday and stayed in positive territory throughout the day indicating some return of investor confidence, analysts said.

The benchmark 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) closed at 10,337.68, up 549.62 points or 5.62 percent from its previous close Friday last week at 9,788.06 points.

The broader-based 50-share S&P CNX Nifty too finished in the green crossing the psychologically important 3,000 mark to close at 3057.15, up 171.55 points or 5.95 percent from its previous close Friday last week at 2885.60 points.

The BSE midcap index closed at 3,355.54, up 155.52 points or 4.86 percent from its previous close Friday last week at 3,200.02 points.

The BSE smallcap index finished at 3,927.10, up 161.99 points or 4.30 percent from its previous close at 3,765.11 points.