Sensex kisses new peak at 19259.26
The Sensex gains 468.37 points to 19,249.26, surpassing previous level of 19,198.66 set on October 18.business Updated: Oct 26, 2007 14:50 IST
The benchmark index rose to a new intra-day high of 19259.26 at noon on the BSE on Friday on brisk buying by funds, after the stock regulator on Thursday dispelled confusion on P-notes and reiterated its position on easing front-door FII investments.
The Sensex gained 468.37 points to 19,249.26 at 1200 hours, surpassing previous level of 19,198.66 set on October 18.
The Securities and Exchange Board of India chairman M Damodaran on Thursday said pension funds, charitable institutions, foundations and university funds that aren't regulated overseas will be able to register in India.
Money managers with a one-year track record will be allowed to register funds that have been in operation for less than a year, the regulator had said.
The National Stock Exchange index, Nifty, also surged 92.45 points at 5661.40 as heavy-weights Reliance Industries, Larsen and Toubro and Tata Steel, SBI gained significant grounds.