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Sensex above 19,000 on reform hopes

SENSEX-ABOVE-19000-ON-REFORM-HOPES:Sensex above 19,000 on reform hopes

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Reuters Market Eye - The gains 1 percent to 19,000 points for the first time since July 8, 2011 for additional fiscal and economic reforms.

The Nifty also advances 1 percent.

The cabinet is set to approve bills that would raise the cap on foreign direct investment in firms and open the pension sector to foreign investors, a government minister told reporters on Wednesday. (Click http://in.reuters.com/article/2012/10/03/pension-insurance-fdi-cabinet-idINDEE89207P20121003 to read full story)

Financial companies with insurance units surge: jumps 3.3 percent, hitting earlier its highest since December 2009, while Bajaj Finserve adds 2.5 percent having earlier hit a record high at 953.90 rupees.

Oil marketing companies gain after Brent futures fall: Hindustan Petroleum Corp rises 2.6 percent.

Blue chip lead gains: rises 2.6 percent, Reliance Industries gains 1.1 percent.

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Market News

Lead gain 0.2% on global cues

Rising domestic spot demand from battery-makers also supported the upside

Ceat gains on plans to hike FII holding limit

The company plans to hike FII holding to 45% from 24%

Refined soya oil up 0.8% on spot demand

Oil for delivery in December edged higher by 0.49%

Mentha oil up 0.3% on rising demand

Oil for delivery in October gained 0.31%

Cardamom up 2% on rising demand

Spice for delivery in December gained 0.59%

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