Business

The 30-share Sensex hit a new peak of 28829.29, before closing at 28784.67, up 522.66 points or 1.85 per cent over its previous close.

Jaitley said, will encourage faster growth of consumers goods sector which has been witnessing relatively slower growth in the last two-three months.

At the Interbank Foreign Exchange (Forex) market, the domestic unit commenced slightly lower at 62.08 a dollar from previous close of 62.06.

Sources said disinvestment in ONGC too can happen provided the government is able to rework the subsidy sharing formula.

Analysts were expecting output growth to come in at 2.2 per cent compared with a 4.2 per cent fall in October.

The local unit has now gained by 141 paise, or 2.23 per cent, in four trading sessions.

The Prime Minister said budgetary allocations for the respective ministries should be spent evenly throughout the year.

FPIs had bought shares worth US dollar 41.60 million last Friday, as per Sebi data.

The 30-share Sensex spurted by 329.95 points, or 1.21 per cent, to 27,701.79.

"Today's operations: SpiceJet as of 3:15 PM operated 124 flights with an on-time performance of 90%," airline's COO Sanjiv Kapoor said.

The domestic unit had plummeted to 13-month low of 63.53 by falling 59 paise against the dollar in Tuesday's trade.

The internet revolution has come a long way as far as promoting business is concerned.

Besides RIL and ONGC, Infosys, ICICI Bank, HDFC, Tata Motors, Bharti Airtel, TCS, Tata Steel, Hero MotoCorp, Tata Power and Gail India suffered marked losses.

Forty-one of 45 economists saw the RBI keeping the repo rate at 8.00 per cent at its policy review, while four expected a reduction of 25 basis points.

Indian companies are keenly waiting for reforms on rules related to land acquisition, labour, coal and power sector, and foreign direct investment in insurance sector.

Jindal Steel's 1.5 billion tonne coalfield in Odisha was among 214 cancelled by the Supreme Court in September.