SENSEX UP BY 219 POINTS

Stock markets today rose for the third day with S&P BSE benchmark Sensex jumping 218.68 points to end at over two-week high of 18,619.72 after Prime Minister Manmohan Singh assured that the rupee's decline will be addressed without capital controls or reversal of reforms. The currency markets also appeared to strengthen with the rupee gaining over 50 paise to trade at 66.05/06 levels against the US dollar compared to yesterday's close of 66.55. While the stock markets were volatile as the Prime Minister began his speech in the Parliament shortly after noon, share prices surged on heavy buying in the last 90 minutes of trade with sectors like consumer durables, healthcare, banking, IT and FMCG seeing good enquiries. The 30-share Sensex ended at 18,619.72, up 218.68 points or 1.19 per cent, extending gains to the third session in which the index has rose over 650 points. Today is the highest close for Sensex since August 14 (19,367.59).  Broad-based National Stock Exchange index Nifty rose by 62.75 points, or 1.16 per cent to end at 5,471.80, after moving between 5,360.20 and 5,493.30. Also, MCX-SX' SX40 index ended at 10,938.49, up 88.98 points.

RUPEE GAINS 85 PAISE

The rupee got a boost today from the Prime Minister's assurances in Parliament on combating the currency's fall and reviving economic growth, gaining 85 paise to close at 65.70 against the dollar. Support for the local currency also came from dollar sales by exporters and some banks after the central bank took steps on Wednesday to stem the rupee's fall. The rupee was getting support from the strong positive closing in the stock markets..The gains came a day after the battered local currency posted its biggest single-day rise in at least 15 years as the Reserve Bank of India allowed state-owned oil refiners, the biggest buyers of dollars, to purchase foreign-exchange through a special forex swap facility. The benchmark S&P BSE Sensex climbed 218.68 points or 1.19 per cent. Foreign institutional investors sold a net Rs 248.18 crore of shares yesterday, as per provisional data.