MARKET EYE-India's BSE index above 19,000 on reform hopes

* The BSE index

gains 1 percent to above 19,000 pointsfor the first time since July 8, 2011 on hopes for additionalfiscal and economic reforms.* The NSE index

also advances 1 percent.* The cabinet is set to approve bills that would raise the capon foreign direct investment in insurance firms and open thepension sector to foreign investors, a government minister toldreporters on Wednesday.

* Financial companies with insurance units surge: Max India

jumps 3.3 percent, hitting earlier its highest sinceDecember 2009, while Bajaj Finserve

adds 2.5 percenthaving earlier hit a record high at 953.90 rupees.* Oil marketing companies gain after Brent futures

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fall: Hindustan Petroleum Corp

rises 2.6 percent.* Blue chip lead gains: ICICI Bankrises 2.6 percent,Reliance Industriesgains 1.1 percent.

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