Sensex continues to trade above 19000 in late morning trade

The BSE benchmark Sensex today continued to trade above 19,000 level in the late morning due to persistent buying mainly in Realty, IT, Refinery, Auto and Banking sectors after Finance Minister P. Chidambaram said that the government will soon announce more measures to boost economic growth coupled with higher global cues.

The BSE benchmark sensex resumed higher at 18,943.62 and shot up further to 19,035.60 before quoting at 19,000.10 at 1030hrs, showing a net gain of 122.14 points or 0.65 per cent from its last close.

The NSE 50-share Nifty also firmed up by 34.65 points or 0.61 per cent to 5,733.15 at 1030hrs.

Major gainers were Tata Motors (2.71 per cent), Icici Bank (2.15 per cent), Maruti Suzuki (1.86 per cent), Reliance Ind (1.85 per cent), Wipro (1.32 per cent) and TCS (1.31 per cent).

Asian stocks climbed in the early trade amid speculation central bankers around the world will continue stimulus measures and as China maintained its economic-growth target for 2013.

Key benchmark indices in China, Hong Kong, Japan, Singapore, Taiwan and South Korea rose by 0.32 per cent to 1.1 per cent.

US stocks rose yesterday as speculation the Federal Reserve will continue stimulus measures overshadowed concern over spending cuts and China's economy.

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