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India's Sensex hits record high | India's Sensex hits record high |
(about 3 hours later) | |
India's main stock index, the Sensex, has closed at a record high on the back of increasing optimism about growth prospects for Indian's economy. | |
The benchmark Sensex index rose 1.67% to 12,746.75 points on Friday, topping a previous peak set in May. | |
India's Oil and Natural Gas Corporation, and leading technology firms such as Infosys, led the advance. | |
The Sensex's recovery marks a change in fortunes for the exchange, which plunged in value earlier this year. | The Sensex's recovery marks a change in fortunes for the exchange, which plunged in value earlier this year. |
Reports that India's manufacturing sector grew by 11.1% in August helped to cement the positive market sentiment among investors. | Reports that India's manufacturing sector grew by 11.1% in August helped to cement the positive market sentiment among investors. |
"Technology and oil companies have led the Sensex for the past month-and-a-half," said TS Harihar, derivatives head at Karvy Stock Broking. | "Technology and oil companies have led the Sensex for the past month-and-a-half," said TS Harihar, derivatives head at Karvy Stock Broking. |
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