Sensex Breaks 20,000 Mark for First Time in 2 Years
January 15, 2013 4:47 PM EST
The BSE Sensex breached the psychologically meaningful level of 20,000 for the first time since January 2011, but retreated below that in later trading.
Shares continue to be supported a day after the government delayed the implementation of controversial rules on tax avoidance and lower-than-expected inflation bolstered the case for cut in interest rates.
The Sensex is up 0.1 percent at 19,916.37, while the Nifty is flat.
Auto makers shares gain on hopes a cut in interest rates will improve industry demand: Maruti Suzuki India Ltd (MRTI.NS) shares gain 0.7 percent, while Mahindra and Mahindra Ltd (MAHM.NS) is up 0.3 percent.
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