Sensex sprints to 20K level, retreats
The bull run at the markets continued for the second straight session on Tuesday after the government announced its decision to defer the implementation the general anti-avoidance rules (GAAR) by two years on Monday.
The BSE Sensex crossed the 20,000 level after two years but settled a tad lower at 19,986.82, still over 80 points higher, as lower-than-expected inflation numbers bolstered the case for a cut in interest rates and prospects for good corporate results added vigour to the rally.
This was the first time since January 6, 2011, that the index crossed the 20,000-mark. The Sensex has risen 560 points in this month so far. From a 52-week low of 15,748.98 on June 4, 2012, the Sensex has risen 4,237.84 points or 26.91 per cent. After touching the day's high of 6,068.50, the NSE Nifty closed with a gain of 32.55 points, or 0.54 per cent, at 6,056.60. Analysts said the government's decision to defer the implementation of controversial rules on tax avoidance, has been a big positive for the market.
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