Sensex closes at 19,058, up 188 pts
The Sensex today breached the 19,000 mark for the first time in nearly 15 months in anticipation of government unveiling next wave of big-ticket reforms like opening the pension sector to foreign investment and raising FDI cap in the insurance sector.
The Sensex opened on a positive note and further picked up the momentum surging over 200 points to cross the 19,000 level amid abuzz in the markets that Cabinet later in the day is likely to clear measures like opening pension sector to foreign investment, raising FDI cap in insurance sector from 26 per cent to 49 per cent, the Forward Contract Regulation Act (Amendment) Bill and the Companies Bill, among others.
Investors expect a rush of capital inflows if these big-ticket measures go through the Parliament, said brokers.
The BSE benchmark index hit 19,107.04 – its highest since July 2011 – as investors bought shares across realty, consumer goods, banks, capital goods and power sectors. Rising for the fourth day, the 30-share index closed at 19,058.15, up 188.46 points or 1 per cent, as 20 stocks led by Bhel (6.57 pc), ICICI Bank (2.93 pc), Dr Reddy (2.16 pc) and SBI (2.15 pc) ended higher. Gains logged by ITC, HDFC Bank and L&T counters also helped Sensex sustain above 19K mark today.
Sensex has gained around 480 points in the last four days.
The 50-share NSE Nifty after breaching 5,800-level, ended at 17-month high levels of 5,787.60 - up 56.35 points. In the overall market, over 1,700 stocks
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