Nifty breaches 6,000 for first time since Jan 2011

Nifty breaches 6,000 for first time since Jan 2011

The Nifty rose 0.8 percent on Wednesday to breach the 6,000 mark for the first time in two years after the U.S. House of Representatives approved a deal on the so-called fiscal cliff, sparking broad-based buying.

Banking shares led the gainers as hopes of a January rate cut gathered steam. ICICI Bank (ICBK.NS) rose 0.9 percent, while State Bank of India rose 1.3 percent.

The Nifty was up 0.8 percent as of 11:23 a.m., after earlier rising to as high as 6,000.50 points, trading above that key psychological level for the first time since January 7, 2011.

The benchmark 30-stock BSE Sensex rose 0.79 percent.

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