Rally gathers momentum; Sensex regains 13,000 mark

Rally gathers momentum; Sensex regains 13,000 mark
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First Published: Thu, Mar 22 2007. 01 21 PM IST
Updated: Thu, Mar 22 2007. 01 21 PM IST
Mumbai: Maintaining its three-session winning streak, the Bombay Stock Exchange benchmark Sensex climbed nearly 315 points today on sustained buying by funds amid short-covering, triggered by firming global markets.
The 30 share index (Sensex), which had gathered over 515 points in the last three sessions, zoomed by 314.32 points at 13,260.20 largely on all-round buying in heavy-weight stocks of banking, IT, metals and capital goods segment.
Similarly, the Nifty index on the wide-based National Stock Exchange also spurted by 100.05 points at 3,864.60.
Stock observers said apart from funds buying, heavy short-covering in derivative segment by operators gave a push to rising prices.
They said US Fed decision to keep interest rates unchanged at 5.25% was another positive factor.
Major contributors to the Sensex were Reliance Industries, ACC, State Bank of India, HDFC Bank, ICICI Bank.
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First Published: Thu, Mar 22 2007. 01 21 PM IST
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