Sensex climbs most in a month [Khaleej Times (United Arab Emirates)]
(Khaleej Times (United Arab Emirates) Via Acquire Media NewsEdge) India's benchmark stock index rose the most in a month, led by energy companies, after the government approved an increase in the price of natural gas.
Reliance Industries Ltd posted its biggest gain in seven months and Oil & Natural Gas Corp, the nation's top explorer, climbed 4.3 per cent. Wipro Ltd climbed to a nine-month high, helping a gauge of software makers to a sixth day of gains.
The S&P BSE Sensex increased 1.9 per cent to 21,103.14, according to preliminary closing prices in Mumbai. The gauge is headed for a one per cent gain this week after the Reserve Bank of India left its key interest rate unchanged in a bid to boost the slowest economic growth in more than a decade. The Cabinet on Thursday upheld a decision to raise natural gas costs, a move that will see prices double to $8.4 per million British thermal unit from April 2014.
The rupee weakened less than 0.1 per cent to 62.1350 per dollar, its fourth day of losses. It touched 62.4775 on Thursday, its weakest level since December 4.
RBI Governor Raghuram Rajan kept the benchmark repurchase rate at 7.75 per cent on December 18, saying the central bank will act at its meeting on Jan. 28 if inflation does not ease in the next round of data releases.
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