SENSEX NIFTY
Oct 04, 2012, 10.06 AM IST | Source: Reuters

Sensex above 19,000 on reform hopes

SENSEX-ABOVE-19000-ON-REFORM-HOPES:Sensex above 19,000 on reform hopes

Reuters Market Eye - The Sensex gains 1 percent to above 19,000 points for the first time since July 8, 2011 on hopes for additional fiscal and economic reforms.

The Nifty also advances 1 percent.

The cabinet is set to approve bills that would raise the cap on foreign direct investment in insurance firms and open the pension sector to foreign investors, a government minister told reporters on Wednesday.

Financial companies with insurance units surge: Max India jumps 3.3 percent, hitting earlier its highest since December 2009, while Bajaj Finserve adds 2.5 percent having earlier hit a record high at 953.90 rupees.

Oil marketing companies gain after Brent futures> fall: Hindustan Petroleum Corp rises 2.6 percent.

Blue chip lead gains: ICICI Bank rises 2.6 percent, Reliance Industries gains 1.1 percent.

ADS BY GOOGLE

video of the day

No definite plans for merger of PSU banks: Banking Secy

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.