Indian shares near 19-month high on reform hopes, Goldman upgrade

Thursday, 29 November 2012 14:54

Posted by Asad Naeem

205

MUMBAI: Indian shares hit their highest in nearly 19 months on hopes the logjam in parliament may end after the government agreed to a vote on allowing foreign entry in multi-brand retail and helped by an upgrade of Indian equities by Goldman Sachs.

The BSE index rose to its highest since May 2, 2011 when it hit an intraday high of 19,253.87.

Goldman Sachs raised Indian stocks to 'overweight' from 'market-weight', citing growth recovery and inflation moderation ahead.

The NSE index also hit its highest level since April 28, 2011.