MUMBAI (Commodity Online): Indian stock markets jump started today with a positive note as the key benchmark index, Sensex opened with gains of 150 points on the back of upbeat sentiment boosted by the statement of the Finance Minister of not putting any curbs on capital flows.

Comments by Finance Minister Pranab Mukherjee on Tuesday, 3 November 2009, that there are no immediate plans to place curbs on capital inflows, also boosted sentiment. The BSE 30-share Sensex was up 280 points or 1.82% to 15,685. Sensex was trading upwards first-time after a successive fall for the 11 sessions in a row.

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The Finance Minister's comments have put to rest speculation over government clamping capital controls after a deluge of foreign portfolio inflows this year. Brazil, another emerging economy, had last month slapped a 2% tax on foreign investments into equities and fixed income instruments.

Stocks from the metal and telecom pivotals rebounded after the recent sharp fall. BSE Metals index was trading up by 1.4% at 13294 points with lead taken by the Sterlite Industries Ltd (BOM: 500900), Hindalco Industries Ltd (BOM: 500440) and Gujarat NRE Coke Ltd (BOM: 512579) as the stocks gained around 3% each in the morning trading session today.

Similarly, oil & gas stocks too witnessed increased buoyancy, as the BSE Oil & Gas index rose by 2.25% at 9251 points in the morning trades. Country’s largest private sector oil refiner, Reliance Industries Ltd (RIL) (BOM: 500325) rose by close to 3% at Rs.1873 after a weak session on Tuesday.

Experts opined that the upbeat sentiment would continue to prevail as the World Bank on Wednesday raised its forecasts for Chinese growth this year and projected a slightly faster pace of expansion in 2010. Gross domestic product will increase 8.4% this year and 8.7% in 2010 on the back of massive fiscal and monetary stimulus, the bank said in a regular update on China's economy.

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