Mumbai: The BSE benchmark Sensex shot up by over 135 points to regain the magical 20,000-level in the opening trade today for the first time since January 17, 2008, on spurt in buying of oil and gas, capital goods and banking sector stocks.
The 30-share index of the Bombay Stock Exchange surged by 135.42 points to 20,041.52 in the opening trade, for the first time since January 17, 2008. All the sectoral indices were trading with gains up to 1.30 per cent.
Similarly, the wide-based National Stock Exchange also crossed the crucial 6,000 points to trade 36.40 points higher at 6,016.85 points.
Both indices have regained these levels after almost 32 months. Analysts said sustained inflows of overseas funds, bolstered by fast expanding economy, helped indices to touch the 32-month high.
PREOPEN:Indian shares seen testing 20,000 since Jan 2008
India's main stock index could test 20,000 on Tuesday for the first time since January 2008, bolstered by rising foreign investor interest in the country's fast-expanding economy.
The 30-share BSE index ended up 1.6 percent at 19,906.10 points on Monday, after hitting 19,927.30. It has risen 10.8 percent this month on the back of foreign fund inflows of nearly $3 billion.
Outsourcers will be watched after Finance Minister Pranab Mukherjee said late on Monday India was worried that recent comments by U.S. President Barack Obama could lead to increased protectionism and would raise the issue when G20 leaders meet in South Korea.
The MSCI's measure of Asian markets other than Japan was barely changed at 0251 GMT, while Japan's Nikkei climbed 0.4 percent.
The Nifty India stock futures in Singapore were up 0.7 percent.
STOCKS TO WATCH
* EIH Ltd after the hotel chain said it would hold a meeting of its board of directors on Thursday to consider issue of shares on rights basis.
* Resurgere Mines after the company said its board had planned to meet on Saturday to consider and approve raising funds via equity or debt.
* Navin Fluorine International after the company said it would consider buyback on Friday.
FACTORS TO WATCH
* India rupee retreats from 3-month peak on import demand
* Indian bonds, OIS steady; supply, data key
* FOREX-Aussie dollar rises briefly after RBA minutes
* NYMEX-Crude retreats ahead of Fed meeting
* Stocks rise on S&P 500 rally. dollar slips
* US market ends more than 1 pct higher, S&P clears levels
Source: Indian Express
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