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Sensex crosses 19,000-level on hopes of more reforms
Last Updated : 04 Oct 2012 10:33:55 AM IST
Sensex crosses 19,000-level on hopes of more reforms

The BSE benchmark Sensex surpassed 19,000 level in early trade on Thursday by rising over 200 points on sustained buying by participants as government is expected to announce further economic reforms.


Rising for the fourth session in a row, the 30-share barometer added 200.48 points, or 1.06 per cent, to trade at 19,070.17. The index has gained nearly 300 points in the previous three sessions.

The wide-based National Stock Exchange index Nifty, shot up by 60.35 points, or 1.05 per cent, to 5,791.60.Brokers said trading sentiment remained bullish on continued buying by funds and retail investors on expectations that the government will accelerate pace of economic reforms by raising FDI cap in insurance sector.

Besides, a firm trend in the Asian region also influenced sentiments, they said. In Asian region, Hong Kong's Hang Seng up by 0.21 per cent, while the Japan's Nikkei by 0.41 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.09 per cent higher in yesterday's trade.

Rupee breaches 52-level; up 28 paise against dollar

The rupee  rose above the Rs 52 level by gaining 28 paise to fresh five-and-half month high of 51.88 against the American currency in early trade on persistent dollar selling by exporters amid hopes of further reforms measures.

Dealers said sustained capital inflows and a higher opening in the equity market also supported the rupee.

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