Diesel price hike fuels Sensex, gold and rupee surge

Shrugging off worse-than-expected inflation numbers for August 2012, the markets cheered the government’s baby steps towards reforms after it announced a diesel price hike late last night. STOCK MARKET. The BSE Sensex jumped 443 points or 2.5 per cent to close at 18,441 while the broader Nifty advanced 142 points to 5,578. This was the biggest one-day gain for the Sensex since December 21, 2012.. The latest trigger for the rally was the government's decision to hike diesel prices. The US Federal Reserve's decision to launch a third round of quantitative easing (new asset purchase programme) sent stocks soaring worldwide.. Click here for full story GOLD. Gold prices touched new all-time high of Rs. 32,900 per 10 grams today, tracking the metal's rally overseas after the US Federal Reserve decided to add further stimulus to boost the world's biggest economy.. Traders said sentiment buoyed on strong cues from global markets where gold climbed to a six-month high after Federal Reserve unveiled a fresh stimulus plan to help spur the US economy, lifting the metal's demand as a store of value.. Click here for full story RUPEE. The rupee today vaulted 113 paise to close at a two and half month high of 54.30 on the back of capital inflows worth Rs 2,800 crore and heavy dollar selling by exporters and some banks.. A sharp fall in dollar overseas, triggered by US Fed's overnight announcement of a fresh round of quantitative easing, and sustained capital inflows into stock markets helped rupee stay in green all through the session.. Click here for full story (With inputs from agencies)

Diesel price hike fuels Sensex, gold and rupee surge

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