India Market Overview
The Bombay Stock Exchange Sensitive Index, or Sensex, gained 281.34, or 1.5 percent, to 19,701.73 today in Mumbai. The index is at its highest level since Jan. 6 and reduced this years loss to 3.9 percent.
The S&P CNX Nifty Index on the National Stock Exchange rose 1.4 percent to 5,908.45, while its April futures settled at 5,948. The BSE 200 Index gained 1.4 percent to 2,418.43.
The rally in Indian equities mirrored advances accross Asian market and the regional benchmark is now at it highest level since last month’s earthquake in Japan.The MSCI Asia Pacific Index advanced 0.6 percent.
The Sensex rallied 9.1 percent in March, the top monthly gain since September. The index has still lost 5.1 percent this year as concerns that rising borrowing costs will crimp economic expansion. The loss is the first since a 25 percent slump in the fourth quarter of 2008. Companies on the benchmark trade at an average 15.5 times estimated earnings, compared with 21.5 times in March 2010.
