Sensex breaches 20,000, highest in 24 months | business | Hindustan Times
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Sensex breaches 20,000, highest in 24 months

business Updated: Jan 15, 2013 22:09 IST
HT Correspondent

The benchmark Sensex of the Bombay Stock Exchange on Tuesday breached the psychological 20,000-mark twice during trade, before ending the day with a gain of 80.4 points, or 0.4%, at 19,987, amid strong buying on rate cut hopes and signs of robust earnings from companies in the October-December quarter.

This is for the first time since January 6, 2011 that the 30-share index has touched 20,000.

The Nifty also gained 32.6 points, or 0.5%, to close at 6,057.

"It was another strong day for the markets with the Sensex crossing the 20000 mark during the day," said Dipen Shah, head, private client group, research, Kotak Securities.

"We believe that strong results from early declarants have buoyed the sentiments of the market. TCS and Axis bank have reported decent numbers for third quarter. Markets are also expecting interest rates to moderate after inflation fell to 7.18% in December. The deferral of General Anti-Avoidance Rules (GAAR) to April 2016 also continued to have a positive impact on sentiments."