Sensex above 19,500 every thing going positive.

AJMER, India - July 11, 2013 - PRLog -- MUMBAI: The S&P Sensex was perched above the 19,600 level after paring some of the intraday gains following an India downgrade report by Macquarie.

The brokerage has downgraded India rating to 'Underweight' from 'Overweight'. It is of the view that the downgrade cycle in India is accelerating and it seems an 'overbought' market, with the region's highest exposure to volatility of global flows.

The rupee also pared intraday gains and was heading to Rs 60 per dollar mark. The partially convertible rupee was at Rs 59.92, down 26 paise, against its previous close of 59.65.

The Indian markets gained in trade today as sentiment turned bullish after the US Federal Reserve Chairman Ben Bernanke said the Fed will continue with easy-money policy "for the foreseeable future." He also suggested that policymakers could keep the bond-buying program at full throttle longer if the economy wobbles.

At 01:40 pm, the 30-share index was at 19,655.51, up 361.39 points or 1.87 per cent. It touched a high of 19,723.51 and a low of 19,468.46 in trade today.

The Nifty was at 5,927.30, up 110.60 points or 1.90 per cent. It touched a high of 5,948.85 and a low of 5,887.95 in trade today.

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