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India's Sensex posts 3.7-per-cent gain

Sahil Nagpal 29 August 2008

New Delhi - India's benchmark Sensex index rose 3.67 per cent Friday, its biggest rise in the past four weeks, as traders bought up stocks after the country's inflation rate declined.

The 30-share index gained 516.19 points to close at 14,564.53, a level not seen since August 5.

Similarly, the broader S&P CNX Nifty of the National Stock Exchange also went up by 146 points to 4,360 points.

Market analysts said buying picked up after the country's inflation rate declined to 12.4 per cent for the week that ended August 16, compared with 12.63 per cent for the week before.

Gains in global markets also influenced market sentiment, they said. (dpa)

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