Jul 31, 2009

Markets Surge: Sensex and Nifty hit new 2009 Highs

The Indian Markets got to see the current high levels for the first time in 2009 with both Sensex and Nifty trading at their highs. At 11:42, the sensex is at 15702 up 314 points (approx. 2%) over the last close and Nifty is also showing gains at 4654 up 83 points (1.8%).

Both the bench marks had started off in style with the BSE benchmark Sensex hitting its 2009 high of 15,686 in the early trades at around 10:06 am. The NSE Nifty surged past 4,650 levels as well.

The sharp uptrend seen in the morning is led by strong global cues. In Asia, the Nikkei index in Japan also hit its new 2009 high.

All the 30 shares of the Bench,ark Index are in the green. Reliance Industries, L&T, Infosys, ICICI Bank and SBI are among the major gainers.

In Asia, the stocks started the day with smart gains with the Japanese Index Nikkei hitting the years high. The rally is led by better-than- expected corporate earnings. Sony Corp surged 4.4%, Yamato Holdings surged 8.6%, Rio Tinto advanced 3%.

The MSCI Asia Pacific Index rose 1.3% to 111.30 as of 11:06 a.m. in Tokyo.

Australia?s S&P/ASX Index gained 1.1%. New Zealand?s NZX 50 Index rose 1%, while South Korea?s Kospi was up 1.2%.

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