Sensex Rallies On New FDI Norms, Rupee Falls On Rexit

The BSE Sensex rallied 241 points on Monday, buoyed by the government's decision to ease foreign direct investment (FDI) norms in pharma, aviation and defence sectors.  The major reform move comes hours after Raghuram Rajan said he will not seek a second term as Reserve Bank chief and is likely to calm foreign investors, rattled by the exit of Dr Rajan, analysts say.  Aviation stocks were the big gainers, with shares of SpiceJet ri...