BSE Sensex breaches 19,000-mark on buying spree

BT Online Bureau   Mumbai     Last Updated: April 2, 2013  | 16:58 IST

The BSE Sensex on Tuesday rose for the fourth session in a row, regaining the 19,000-level after two weeks by adding 176 points on sustained buying by funds on optimism of more economic reforms.

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 30-share index of the Bombay Stock Exchange closed 176.20 points, or 0.93 per cent, higher at 19,040.95, a level last seen on March 18. The index had gained 183 points in last three sessions.

Similarly, the 50-share National Stock Exchange index Nifty rose by 43.70 points, or 0.77 per cent, to 5,748.10.

The upsurge was led by trend-setter Reliance Industries (RIL), and pharma major Sun Pharmaceuticals on reports of drugs price hike. RIL shares shot up by 2.03 per cent to Rs 793.95 and Sun Pharma by 4.61 per cent to Rs 851.50.

Shares of Reliance Communications (RCom) spurted by 10.86 per cent 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 RCom 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 per cent to 8,831.05 followed by oil and gas index by 1.99 per cent to 8,528.40. Capital goods sector index rose by 1.88 per cent to 9,341.75 and healthcare index by 1.82 per cent to 8,232.99.

With PTI inputs

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