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Sensex regains 29,000-mark as Parliament passes Insurance Bill


Mumbai: The benchmark BSE Sensex regained the 29,000-mark by soaring 253 points and the NSE Nifty again breached the 8,800-level in opening trade today on foreign capital inflows and buying by investors following passage of Insurance Bill in Parliament amid a firming trend overseas.

Rising for the second session, the 30-share Sensex recaptured the crucial 29,000-level by gaining 253.35 points, or 0.87 per cent, at 29,183.76 with all sectoral indices, led by realty, banking, capital goods, power, PSUs and metal, trading in positive zone and rising up to 0.69 per cent.

The gauge had gained 271.24 points in yesterday’s trade.

On similar lines, the 50-share NSE Nifty reclaimed the 8,800-level by spurting 73.75 points, or 0.84 per cent, to 8,849.75.

Brokers said passage of the Insurance Bill, raising foreign investment cap in the sector from 26 per cent to 49 per cent, buoyed the trading sentiments.

Besides, better-than-expected industrial production index, which grew 2.6 per cent in January, influenced sentiments, they added.

Stocks linked to insurance space continued to remain buyers’ fancy with Reliance Capital surging 2.06 per cent, Max India (2.6 per cent) and Aditya Birla Nuvo (1.5 per cent).

Among other Asian markets, Hong Kong’s Hang Seng rose by 0.15 per cent and Japan’s Nikkei was up by 1.44 per cent in early trade today.

The US Dow Jones Industrial Average ended 1.47 per cent higher in yesterday’s trade.

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