Sensex nudges up 0.1
On February - 8 - 2010
The BSE Sensex pulled back from an early slide and eked out a 0.1 percent gain on Monday, after a recovery in European shares helped soothe nerves. Beaten down telecoms Bharti Airtel and Reliance Communications led the rise.
The government forecast the economy would grow 7.2 percent in the current fiscal year that ends in March, picking up from a six-year low in the previous year and reinforcing market expectations of strong industrial growth.
The rebound could prepare the ground for a roll-back in stimulus incentives when the federal budget is unveiled on Feb. 26 and hasten an increase in interest rates to tame inflation pressures.
For the time being, however, investors will be watching the debt problems in Europe, traders said.
