Sensex crosses 19K

The Bombay Stock Exchange's benchmark 3--share Sensex crossed the 19000-point mark on Monday, just four days after touching the 18K point mark.

It is the fastest ever rally of a thousand points in its own history.

The push was led by five companies, which accounted for 60 percent of Monday's s growth. The companies were Reliance Industries Ltd, ICICI Bank, Rekliance Energy, Larsen and Toubro and ONGC.

The Sensex gained 594 points to touch a historic high of 19000 points at 2.50 p.m.

The above 19,000 barrier marked revival of funds-based buying in blue chip stocks in metal, capital goods and refinery segments. Read Complete News

The 30-share Sensex, which snapped a long rally by losing nearly 395 points on Friday, resumed its record setting journey.

The buying activity also picked up in capital goods and refinery stocks.

Marketmen said the current rally was supported by metal, refinery and capital goods stocks besides a major gain in Reliance pack of stocks belonging to both Ambani brothers.

Sensex Gains over 400 pts - Foreign Funds inflow

Sensex Zooms over 514 points by noon

Share Market in India opened higher, after a bad Friday, buoyed by gains on Wall Street and helped by all-round purchases from foreign funds.

Domestic sentiment was also boosted with the improving mood in other Asian markets. Most Asian markets, which were trading mixed, had moved into positive territory.

Information technology stocks remain somewhat subdued even as stocks from other sectors are having a nice ride up the charts today.

Banking shares rose on hopes that demand for loans will increase during the Indian festival season, which got under way last week.

The buying activity also picked up in capital goods and refinery stocks. Marketmen said the current rally was supported by metal, refinery and capital goods stocks besides a major gain in Reliance pack of stocks belonging to both Ambani brothers.

SBI reduces interest rates for new Home Loans Car loans

Mumbai, Oct 10 India's largest public sector bank, the State Bank of India (SBI) Wednesday announced cut in interest rates on new loans for homes, automobiles and farm equipment as a festival season offer that runs till Dec 31 this year.

Home loan rates were lowered by 0.50-1.0 percent, depending on loan maturities and amount of loan. The bank is also offering a discount if the borrower has a salary account with it.

Interest rates for loans for cars and two-wheelers have been reduced by up to 1.0 percent, depending on the amount and maturity of loan. New car loans are now available at 11-12 percent.

Personal loans are also cheaper by 0.50 percent to 1 percent. The bank is also offering 50 percent concession in processing charges for personal loans.

The proposed rates are applicable to all new loans sanctioned on or after Oct 8 and are valid up to Dec 31, said a bank statement.