TIL Desk/Business/Mumbai/ BSE benchmark Sensex rose 189 points to reclaim the 30,000-level and NSE Nifty went past 9,350 in early trade today, buoyed by encouraging corporate earnings and a string of government reforms, including NPA resolution and steel policy. The domestic equities also got a boost after the US Federal Reserve kept its policy rate unchanged in its two-day policy review.
Banking stocks led the recovery this morning following the government’s decision to bring an ordinance to empower the Reserve Bank to effectively deal with the problem of mounting bad loans in the banking sector, brokers said. A proposal to amend Section 35 A of the Banking Regulation Act through the ordinance route was approved by the Cabinet yesterday.
The 30-share index was trading up 189.14 points, or 0.63 per cent, at 30,083.94, with all the sectoral indices led by banking and consumer durables staying in the green. The gauge had shed 26.38 points in the previous session. The NSE Nifty-50 index was trading higher by 49.45 points, or 0.53 per cent, at 9,361.40.
