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    Sunday, November 22, 2009

    India's Sensex Gets Lift From Reliance Deal News

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    By V. Phani Kumar
    MarketWatch Pulse
       

      HONG KONG -- Indian shares extended gains Monday, with market heavyweight Reliance Industries Ltd. rising after news it's bidding to acquire a controlling interest in bankrupt LyondellBassell Industries. The 30-stock Sensex climbed 0.6% to 17,120.63 in early morning trading, while the 50-share S&P/CNX Nifty added 0.6% to 5,081.85. Reliance shares advanced 1.6% after LyondellBasell, the Rotterdam-based producer of petrochemicals, confirmed it had received a nonbinding bid -- estimated by media reports at $12 billion -- from the Indian petrochemicals and energy giant.

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