Sensex goes past 12,000 Mark

Key benchmark indices settled near day's high, striking 7-month
highs, mirroring strong global cues. The barometer index BSE Sensex
gained 731.50 points, or 6.41%, outperforming its global peers.
Strong domestic and global economic data and aggressive build-up of
fresh derivatives positions in May 2009 series triggered a solid
rally on the bourses today, 4 May 2009. The barometer index BSE
Sensex surpassed the psychological 12,000 level.

Activity in Indian factories expanded for the first time in five
months in April 2009 as a swelling orders pipeline pointed to a
tentative recovery, a survey showed on Monday, 4 May 2009. The ABN
AMRO Bank purchasing managers' index (PMI) based on a survey of 500
companies, rose to 53.3 in April 2009 from 49.5 in March 2009,
climbing above the threshold of 50 that separates expansion from
contraction. The latest reading is the highest in seven months and
it has steadily risen after hitting a trough of 44.4 in December
20089.

Manufacturing makes up about 16% of India's gross domestic product.
The boost in manufacturing index came from a surge in new orders.
The new orders index rose to 54.9 in April 2009 from 49.5 in March
2009. Several research notes in the past few days have pointed to
improvement in economic activity in the months ahead.

Financial stocks led gains in European markets today, 4 May 2009,
on improved economic data in the euro-zone. Germany's DAX gained
1.80% and France's CAC 40 index rose 1.16%. The stock market in UK
was shut for a public holiday