Millennium Post

Sensex zooms 176 points to end above 19,000 mark

Rising for the fourth straight day, the BSE benchmark Sensex on Tuesday jumped by 176 points to regain 19,000-mark after two weeks on sustained buying in bluechips like RIL, Sun Pharma, L&T and SBI after government said it will continue to argue for lowering of interest rates by RBI.

Stock markets, which had of late lost vigour on concerns like RBI having little room to cut rates further, shrugged off sluggishness after Finance Minister P Chidambaram reiterated India's commitment to additional economic reforms and the government's pro growth stance.

The Sensex closed 176.20 points higher, or 0.93 per cent, at 19,040.95, a level last seen on 18 March. The index had gained around 183 points in past three sessions.

All-round buying was seen as all 13 sectoral indices closed with gains up to 2.07 per cent. Metal, refinery, capital goods, pharma and PSU counters took lead while 23 out of 30 Sensex-based stocks closed up. RIL jumped over 2 per cent after billionaire Ambani brothers joined hands for telecom biz. Sun Pharma and Wipro gained over 4 per cent each. L&T gained 2 per cent after its construction arm bagged orders worth Rs 3,700 crore in March.
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