Sensex crosses 19,000-level

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Sensex surpassed 19,000 level in early trade today by rising over 200 points.  (Reuters) Sensex surpassed 19,000 level in early trade today by rising over 200 points. (Reuters)
SummarySensex surpassed 19,000 level in early trade by rising over 200 points.

The BSE benchmark Sensex surpassed 19,000 level in early trade today 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.

Indian FX/debt factors to watch - Oct 4

GLOBAL MARKETS ROUNDUP

Asian shares steadied on Thursday and the safe-haven dollar eased after positive U.S. data, leaving investors waiting for more economic indicators from the world's largest economy later in the day and a European Central Bank policy meeting.

The yen struggled at two-week lows against the dollar on Thursday, with wary speculators taking a pre-emptive move just in case the Bank of Japan surprises this week by easing policy.

Oil prices fell sharply on Wednesday as disappointing economic data from China and Europe reinforced concerns about slowing growth and a weakening demand for petroleum, even as supportive U.S. data strengthened the dollar.

U.S. Treasuries ended little changed on Wednesday as investors waited on the release of minutes from the Federal Reserve's September policy meeting on Thursday, and on a highly anticipated jobs report on Friday for further direction about the strength of the economic recovery.

OVERNIGHT NEWS

India's cabinet is set approve bills that would raise the cap on foreign direct investment in insurance firms and open the pension sector to foreign investors, a minister said on Wednesday.

KEY EVENTS TO WATCH

India's central bank governor Duvvuri Subbarao and other officials part of the board meeting in the Union Territory of Puducherry at 0730 GMT.

Services PMI for September due at 0500 GMT.

MAJOR DEALS/EXTERNAL COMMERCIAL BORROWINGS

BG Group said it agreed to sell its majority stake in

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