Sensex back at 19k-level helped by RIL, Sun Phrama gains
Rising for the fourth day in a row, the BSE benchmark Sensex today regained 19,000 level after two weeks by adding 176 points on sustained buying by funds on optimism of more economic reforms amid a firming global trend.business Updated: Apr 02, 2013 17:03 IST
Rising for the fourth day in a row, the BSE benchmark Sensex on Tuesday regained 19,000 level after two weeks by adding 176 points on sustained buying by funds on optimism of more economic reforms amid a firming global trend.
The Sensex closed 176.20 points higher, or 0.93% to 19,040.95, a level last seen on March 18. The index had gained 183 points in last three sessions.
Similarly, the broad-based National Stock Exchange index Nifty rose by 43.70 points, or 0.77%, to 5,748.10.
Brokers said investors confidence improved after Finance Minister P Chidambaram reiterated the government's commitment to additional economic reforms.
They said the market received further boost amid a mixed trend in the Asian region and after European stocks rose to one-week high as trading resumed after a four-day weekend.
The upsurge was led by trend-setter Reliance Industries, and pharma major Sun Pharmaceuticals on reports of drugs price hike. The RIL shot up by 2.03% to Rs 793.95 and Sun Pharma by 4.61% to Rs 851.50.
Rcom spurted by 10.86% to Rs 63.30, after the company struck a Rs 1,200-crore deal with Mukesh Ambani-led Reliance Industries' telecom arm.
Under the pact, Mukesh Ambani-led Reliance Industries' telecom arm will hire nationwide optical fibre network of Reliance Communications for the roll-out of 4G services.
In 30-BSE components, 23 stocks ended with gains led by Larsen and Toubro, Sterlite Industries, State Bank of India, Infosys, Jindal Steel and Maruti Suzuki. The metal sector index gained the most by 2.07% to 8,831.05 followed by oil and gas index by 1.99% to 8,528.40. Capital goods sector index rose by 1.88% to 9,341.75 and healthcare index by 1.82% to 8,232.99.