Sensex reclaims 30000-level, rises 99 pts in early trade

The wider 51-scrip Nifty of the National Stock Exchange (NSE) declined by 84.25 points or 0.90 per cent to provisionally close the day's trade at 9,275.65 points.

Banking stocks were seen carrying forward the positive sentiment arising out of the government's decision to bring an ordinance to give greater powers to the Reserve Bank to tackle mounting bad loans. The BSE IT index slips 0.4 per cent; HCL Technologies, Tech Mahindra, TCS and Infosys among laggards. The market also cheered the government's new policy aimed at boosting steel output and consumption.

The Sensex touched a high of 30,069.24 points and a low of 29,804.12 points during the intra-day trade.

"The equity benchmark indices started off the day on a firm note despite of mixed global cues, thanks to gains in banking stocks after the cabinet on Wednesday approved a new policy to deal with non-performing assets (NPAs)", Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

Foreign funds persisted with outflows as FIIs sold shares net worth Rs. 601.13 crore in the previous session, according to provisional figures.

$10M bail set for man accused of killing Iowa deputy
A Pottawattamie County Sheriff's deputy was fatally shot by an inmate who escaped the jail in Council Bluffs, Iowa Monday morning. But Wilbur said he will work to bring him back to Iowa to prosecute him on charges of first-degree murder and attempted murder.

Overnight Nasdaq closed in red, down by 0.38 per cent while FTSE 100 was in red, down by 0.21 per cent at the closing on Wednesday.

A fall in oil prices dragged down Reliance Industries (RELI.NS) and Oil and Natural Gas Corp (ONGC.NS), which lost more than 2 percent each.

The BSE Sensex, too, closed above the 30,000-mark. ICICI Bank was the top gainer in the Sensex pack, surging 9.24% at Rs. 297.95.

Among the sectoral indices, Bankex rose 2.32 percent, Consumer Durable 1.41 percent, Finance 1.38 percent and FMCG 1.08 percent.

On the other hand losers involved Kotak Mahindra Bank (Rs 908.25 per piece), IndusInd Bank (Rs 1,426.30 per piece), HDFC Bank (Rs 1,532.10 per piece), Yes Bank (Rs 1.631.35 per piece) and Federal Bank (Rs 112 per piece) trading negative in the range of 0.4% - 1%.

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