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NSE stock futures breach key 6,000 level

Source : REUTERS
Last Updated: Tue, Dec 11, 2012 05:25 hrs
Sensex, Nifty hit 2-year lows; banks lead losses

December futures contract for India's 50-share NSE index crosses the psychologically key level of 6,000 points for the first time since Jan. 7, 2011, extending a rally after recent reform measures were cleared by parliament.

Dealers say the milestone in futures bodes well for the main NSE index, widely known as Nifty, which has risen 27.8 percent in 2012 as of Monday's close.

Passage of banking reforms bill, due to be voted on Tuesday, and other measures would be key for sustaining the rally that has seen India outperforming BRICs by a wide margin in 2012 so far, dealers add.


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