Sensex hits 20K-level in opening trade

Jan 15 2013, 09:57 IST
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Sensex breached the psychologically meaningful level of 20,000 for the first time since Jan. 2011. (Reuters) Sensex breached the psychologically meaningful level of 20,000 for the first time since Jan. 2011. (Reuters)
SummarySensex breached the psychologically meaningful level of 20,000 for the first time since Jan. 2011.

The BSE benchmark Sensex today breached the 20,000-mark in the opening trade after two years on sustained buying by funds, driven by better-than-expected third quarter earnings by Tata Consultancy Services amid mixed

Asian cues.

The 30-share index, however, immediately slipped to 19,938.01 on profit-booking, still up by 31.60 points, or 0.16 per cent, from yesterday's close.

It touched a high of 20,007.09 by gaining over 100 points in opening trade, led by gains in IT, tech and consumer durables sector stocks.

Similarly, the wide-based National Stock Exchange index Nifty inched up by 3.35 points, or 0.06 per cent, to 6,027.40.

Brokers said sustained buying by funds and retail investors after country's largest software exporter TCS posted 26.7 per cent jump in net profit for the October-December quarter buoyed the trading sentiment here.

Stocks of TCS shot up by 3 per cent to Rs 1,374.35, while Wipro gained 0.67 per cent to Rs 420.70.

Besides, a mixed trend in the Asian region also influenced the sentiment, they said.

Meanwhile in the Asian region, Hong Kong's Hang Seng shed 0.26 per cent, while Japan's Nikkei was up 1.26 per cent in early trade today. The US Dow Jones Industrial Average ended 0.14 per cent higher in yesterday's trade.

Sensex breaches 20,000, turns flat

(Reuters): BSE index Sensex breached the psychologically meaningful level of 20,000 for the first time since Jan. 2011, but retreated below that in later trading.

Indian shares continue to be supported a day after the government delayed the implementation of controversial rules on tax avoidance and lower-than-expected inflation bolstered the case for cut in interest rates.

The BSE index is up 0.1 percent at 19,916.37 while the NSE Index is flat.

India's Tata Consultancy Services Ltd shares gain 2.7 percent, a day after topping expectations with a 23 percent rise in October-December profit.

Auto makers shares gain on hopes a cut in interest rates will improve industry demand: Maruti Suzuki India Ltd shares gain 0.7 percent, while Mahindra and Mahindra Ltd is up 0.3 percent.

Stcks to watch-Jan 15

GLOBAL MARKETS ROUNDUP

Nifty futures on the Singapore Exchange fell 0.2 percent. The MSCI-Asia Pacific index, excluding Japan fell 0.2 percent.

The yen hovered near its 2-1/2-year low against the dollar on Tuesday, bolstering Japanese shares to multi-year highs on expectations for more aggressive monetary easing from the Bank of Japan.

The S&P 500 and Nasdaq ended lower on Monday

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