Epic Update : Sensex crosses 17,100

[epicresearch]

The Indian benchmark indices were extending the gains after a firm start on the back of Banking, Metal, Capital Goods and Realty stocks. The markets gained momentum on the hopes that government will work to restore the confidence in the economy and assurance by the Prime Minister that the growth rate of the economy will improve to about 7 per cent.

[epicresearch]

Riding high on the hopes that government will initiate reforms after the Presidential elections as Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee has signaled at some tough measures to revive the economic growth, the domestic bourses continued to trade higher. The positivity in the market was also injected by Moody’s Investors Service which said that India’s rating outlook is stable despite GDP growth slowdown.