India's NSE index breaches 6,000 for 1st time since Jan 2011
MUMBAI Jan 2 (Reuters) - India's NSE stock index rose 0.8 percent on Wednesday to breach the 6,000 mark for the first time in two years after the U.S. House of Representatives approved a deal on the so-called fiscal cliff, sparking broad-based buying.
Banking shares led the gainers as hopes of a January rate cut gathered steam. ICICI Bank rose 0.9 percent, while State Bank of India rose 1.3 percent.
The 50-stock NSE index was up 0.8 percent as of 0553 GMT, after earlier rising to as high as 6,000.50 points, trading above that key psychological level for the first time since Jan. 7, 2011.
The benchmark 30-stock BSE index rose 0.79 percent. (Reporting by Abhishek Vishnoi; Editing by Sunil Nair)
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Government officials painted an upbeat picture for the economy on Thursday as it struggles to emerge from the longest spell of sub-par growth in decades and promised to tighten up risk management at the country's dominant state banks. Full Article