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Refiners fuel Sensex to reach close to 17K level

Refiners fuel Sensex to reach close to 17K level
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First Published: Tue, Sep 25 2007. 05 26 PM IST
Updated: Tue, Sep 25 2007. 05 26 PM IST
Agencies
Closing
Mumbai: The Sensex continued its journey towards 17K on 25 September, gaining 54 points on the Bombay Stock Exchange following a rise in refinery stocks.
The index closed higher by 53.71 points at 16,899.54, after touching day’s high of 16,928.02 and a low of 16,676.98 points. The wide-based National Stock Exchange index Nifty rose by 6.85 points at 4,938.85, after reaching the high of 4,953.90 and low of 4,878.15 points during the day.
Oil and gas extended maximum support to the rally by rising 126.34 points at 9,777.51 as segment major and world’s third largest refinery Reliance Industries shot up Rs42.90 to a new peak of Rs2,399.60.
Indian Oil also led the refinery index higher after reports of a possible issue of oil bonds by the government to help reduce losses on selling petroleum products at a price lower than the market determined one.
Metal index rose by 50.36 points at 13,080.83, healthcare index by 24.37 points at 3,687.60, PSU index by 15.20 points at 7,975.12, teck index by 9.97 points at 3,651.41 and consumer durable index by 6.98 points at 4,762.
A steep fall of 284.21 points in the realty index at 9,085.47 pulled back the Sensex. Capital goods index lost 74.10 points at 14,763.61, auto index 46.99 points at 5,250.27 and bank index by 16.51 points at 8,944.98.
Both the exchanges will remain shut between 1125 hrs and 1210 hrs due to possible disruptions in satellite communication. The closing time has been extended to 1615 hrs, 45 minutes beyond the normal close. The change will be in effect until 9 October.
Afternoon update
Mumbai: In a day marked by high volatility, the markets slipped into negative territory in afternoon trade, with the Sensex shedding all its gains and quoting 24.62 points down at 16,821.21 at around 1:00pm on 25 September. The benchmark BSE index had twice made it beyond the 16,900 mark earlier in the day.
The Nifty also entered red zone and was trading 17.45 points down at 4,914.75.
Morning
Mumbai: The benchmark Sensex fell by nearly 35 points on the Bombay Stock Exchange today on emergence of profit selling amid a weak trend in the global markets.
The 30-share index, Sensex, which opened moderately higher by 70.08 points, shed 34.83 points to touch 16,811.00 points on heavy profit booking, within the first five minutes of trade.
Similarly, the wide-based National Stock Exchange’s Nifty lost 12.05 points at 4,920.15.
Marketmen said selling pressure build up as share prices soared and attracted a bear hammering amid weak signal from global markets.
In Hong Kong, the Hang Seng opened lower due to fall in Wall Street.
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First Published: Tue, Sep 25 2007. 05 26 PM IST
More Topics: Stocks | BSE | NSE | Sensex | Nifty |