The 30-share BSE Sensex gained as much as 226 points on Tuesday on expectations of further monetary easing by the Reserve Bank of India after a flat industrial output in April.
The BSE benchmark rose 194.79 points or 1.17%, to close at 16,862.80, supported by 25 components. Meanwhile, the NSE benchmark ended above the 5,100 for the first time since May 7, 2012 that moved up 61.80 points or 1.22% to 5,115.90.
After looking at just 0.1% growth in industrial output for April, market experts and bankers expect 50 basis points cut in repo rate or 50-100 basis points cut in cash reserve ratio by RBI in its mid-quarter policy review on June 18.
SABIC contributes to national development
The Saudi Basic Industries Corporation (SABIC) sponsored the Industrial Innovation Award which was presented to developers of new ideas for industrial projects at a ceremony held in Riyadh on May 18.