India’s Sensex Index Extends Advance on Eve of Festive Season
By Hemal Savai
Sept. 9 (Bloomberg) -- India’s benchmark stock index rose for a fourth day, extending a 2 1/2 year high, on the eve of a festive season that may see a surge in consumer spending.
Hindustan Unilever Ltd., a unit of the world’s second- largest consumer-goods maker, climbed to a nine-month high. Mahindra & Mahindra Ltd., the nation’s biggest sport-utility vehicle and tractor maker, advanced 3.2 percent. India’s festive celebrations begin tomorrow with a religious holiday, when financial markets are closed. Easing concern over Europe’s budget deficit crisis also boosted investor confidence.
The Bombay Stock Exchange’s Sensitive Index, or Sensex, gained 118.39, or 0.6 percent, to 18,785.10 according to preliminary closing prices. The gauge, set for its highest close since January 2008, is on course for a 3.2 percent advance this week. The S&P CNX Nifty Index on the National Stock Exchange rose 0.5 percent to 5,633.20. The BSE 200 Index advanced 0.5 percent to 2,407.01.
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