Sensex hits 7-month closing high, ends above 18,000

The Bombay Stock Exchange Sensex rose for a sixth consecutive session to close at its highest since February 23 on rising hopes for government reforms after the aviation minister signalled the country was moving to allow foreign direct investment into the sector. Speaking to media persons in Mumbai, Ganesh Shanbhag, a financial expert said that talks by the government on FDI in retail and aviation sector have boosted investors' sentiments. Gains in local shares also tracked a risk-on mood globally, after Germany's top court backed the legality of the euro zone bailout funds, although with conditions.