SENSEX AGAIN REACH 19000

Indian markets were on fire today with Sensex zooming by 520 points, its biggest gain in 22 months, with energy firms RIL and ONGC leading the surge fuelled by steep hike in gas price amid hopes US Fed will not begin tapering monetary stimulus soon. Buying across the spectrum saw all 13 sectoral indices closing with gains as FIIs were seen buying stocks after a flurry of reforms in the energy space. Overall, 1535 stocks gained out of 2512 traded, helping investor wealth soar by Rs 1.52 lakh crore today. The Bombay Stock Exchange 30-share barometer resumed up and stayed in the positive zone throughout to end at 3-week high of 19,395.81, a spurt of 519.86 points or 2.75 per cent. Previously, it had gained 567.50 points on August 29, 2011. The NSE 50-issue Nifty flared up by 159.85 points, or 2.81 per cent, to end at two-week high of 5,842.20. Also, SX40 index, the flagship index of MCX-SX, ended 275.16 points, or 2.45 per cent higher at 11,494.35.
Tracking stocks, rupee rebounded to 59-levels after touching historic low of 60.76 earlier this week. Government had yesterday approved near doubling of natural gas prices to USD 8.4 from April 1 next year and okayed setting up of a coal regulator. Last week, it allowed power producers to pass through higher imported coal prices.
INVESTOR WEALTH UP BY 1.5 LAKH CRORES
Total investor wealth in domestic stock markets today soared by Rs 1.53 lakh crore as investors cheered energy reforms, including hike in natural gas prices. Overall, 1538 stocks ended as winners among the 2,500-odd trade on the BSE today. The Sensex ended 519.86 points or 2.75 per cent higher at 19,395.81, the biggest single day gain since August 29, 2011. The NSE Nifty shot up by 159.85 points or 2.81 per cent to close at 5,842.20. "Market sentiment was boosted by positive global cues and a hike in natural gas by CCEA on Thursday. Also, many stocks were in oversold region, which attracted buying from lower levels," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Limited. Among the Sensex blue-chips, 29 ended higher with Jindal Steel & Power emerging as the biggest gainer. All the BSE 13 sectoral indices also ended the day higher, where the metal sector hogged the limelight. The rupee recovered against the dollar, staging a comeback from an all-time low of 60.76 to 59.19 today. Oil and gas stocks today settled with as much as 4 per cent gains after the government approved near doubling of natural gas prices, a move seen positive for upstream companies. Shares of RIL were up 3.78 per cent to Rs 861.85, while ONGC rose by 2.98 per cent to Rs 330.10 on the BSE.