Pursuits
Indian Stocks Gain as Singh Gets Support for Foreign Retail Vote
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Indian stocks rose for a third day, reversing earlier losses, as the leader of the fourth largest party in the parliament said she would support Prime Minister Manmohan Singh’s plan to allow foreign investment in retail.
The BSE India Sensitive Index, or Sensex, added 0.5 percent to 19,486.80 at the close, holding at a 19-month high. The gauge slid as much as 1.1 percent before Mayawati, chief of the Bahujan Samaj Party, said her party will vote in favor of the retail policy tomorrow. Lawmakers voted to back the plan in the lower house of parliament yesterday.