Tumbling oil lifts Sensex by 551 points
A strong correction in crude oil price helped the key benchmark indices register phenomenal gains today, 2 September 2008. The 30-share BSE Sensex jumped over 500 points to cross the psychological 15,000 mark after nearly 12 trading sessions. Realty and banking shares were star performers, while healthcare stocks lagged behind in today’s rally.
As per provisional data released by the stock exchanges after trading hours, foreign funds today, 2 September 2008, bought shares worth a net Rs 1,132.25 crore. Domestic funds purchased shares worth a net Rs 209.79 crore.
Oil prices tumbled extending the previous day's fall on initial signs that a weakened Hurricane Gustav spared major Gulf oil facilities. At 16:32 IST, crude oil was trading at $108.12 a barrel on the New York Mercantile Exchange (NYMEX).
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