Sensex gains over 400 pts; IT majors lag

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Markets continue to trade firm benchmark indices gained over 2 % on rupee recovered against the dollar after the new governor of the central bank, announced new measures to prop up the rupee and foreign aid flows . At 1120 hours, the Sensex was up 402 points at 18,970 and the Nifty gained 134 points to trade in 5582. At the same time, the yen is trading at 66.08 per dollar. Broader markets indices won with medium and small capitalization gained 1-1.3 %. In Asia , stocks rose to three-week highs on Thursday as Indian shares and the rupee met a day after the new head of the central bank , announced a series of measures to support the banking sector and currency . However, worries the U.S. Federal Reserve soon scale back stimulus markets remained under control. MSCI index of Asian stocks outside Japan rose 0.7 percent , reaching highs not seen since August 19 . Read More -