Business

The 30-share BSE Sensex rallied 376.95 points or 1.51 percent to 25396.46 and the 50-share NSE Nifty shot up 109.30 points or 1.46 percent to 7583.40.

At the Interbank Foreign Exchange (Forex) market, the local currency resumed lower at 59.40 as against the last closing level of 59.38 and dropped further to 59.48 a dollar.

"If the economy stays on this course, further policy tightening will not be warranted," RBI Governor Raghuram Rajan said.

At the Interbank Foreign Exchange (Forex) market, the local currency commenced slightly lower at 59.17 a dollar from last close of 59.15.

A clear mandate for the BJP has rekindled hope for structural reforms and better investment climate and the country's growth is likely to accelerate to 6.5 per cent in Financial Year '16, a Goldman Sachs report said on Friday.

Gold prices tumbled by Rs 800 to hit nine-month low of Rs 28,550 per ten grams in the national capital on Thursday after the Reserve Bank eased import norms. Besides, sluggish demand and subdued global cues also weighed on the precious metal prices.

Marks & Spencer operates in India in a joint venture with Reliance Retail, a unit of billionaire Mukesh Ambani's Reliance Industries.

Sensex has now gained 562 points in four sessions on sustained optimism over incoming Narendra Modi-led government.

Captain Nair was the founder of ultra-luxury hotel chain Leela Group of hotels and Russi Mody was the former chairman of Tata Steel.

Chidambaram holds the distinction of presenting nine Unions Budgets -- short of the record 10 delivered by Morarji Desai.

No-frills carrier SpiceJet has tied up with gulf-based Visas of the World to offer its customers seamless visa services for the UAE.

The 30-share index had recovered by 119 points in early trade on positive global cues following Federal Reserve Chief Janet Yellen's upbeat outlook on the US economy.

The 30-share BSE barometer started on a negative note and fell further to touch the day's low of 22,286.26.

Commerce and Industry Minister Anand Sharma has written to EU Trade Commissioner Karel De Gucht regarding the matter.

Forex managers attributed weakness in the rupee value to heavy dollar demand from importers.

US District Judge Jed Rakoff in Manhattan directed Gupta, 65, who lost a bid for a new trial last month, to surrender by 2:00 p.m. on that date.