Thursday, 29 November 2012

Sensex crosses 19,000; up 24% YTD

Posted by Ways2Capital on Thursday, November 29, 2012 with No comments


The Sensex today breached the 19,000-mark for the first time in nearly two-months on persistent fund inflows on expectations that the government will be able to push through economic reforms.

The 30-share barometer opened on a positive note and further picked up the momentum to to trade 192.13 points, or 1.02 per cent, higher at 19,034.21, a level last seen on October 5 (intra-day) this year.

Stocks of consumer durables, FMCG, realty and auto sectors were in keen demand, helping Sensex to regain the 19,000 level. The BSE benchmark

Sensex has rallied over 336 points in the previous two sessions, after credit rating agency Moody's said that India's outlook is stable.

"Sustained foreign funds inflows on hopes that the government would be able to push through economic reforms in Parliament, helped Sensex to breach 19k level",

The 50-share NSE Nifty followed suit and shot up by a whopping 50.40 points, or 0.88 per cent, to trade at 5,777.85.

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