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Sensex sets new peak at 16,564 pts

Sensex sets new peak at 16,564 pts
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First Published: Fri, Sep 21 2007. 05 53 PM IST
Updated: Fri, Sep 21 2007. 05 53 PM IST
Mumbai: The benchmark Sensex on 21 September surged to its new peak by gaining over 216 points on the Bombay Stock Exchange on account of fag-end buying by funds triggered by reports of a fall in inflation.
The Sensex surged by 216.28 points to set a new closing peak at 16,564.23 after touching the day’s high of 16,616.84 and low of 16,308.09 points.
Similarly, the wide-based National Stock Exchange index Nifty spurted by 90 points, reaching its all-time high of 4,837.55. During the day, it dipped to 4,733.70 and touched a high of 4,855.70 points.
The major support was extended by refinery stocks after the crude oil zoomed to cross $84 a barrel in future trading in New York last night.
Oil and gas index gained the most by 320.49 points at 9,340.05 as Reliance Industries, the heaviest scrip, shot up by Rs82.30 to Rs2,274.40 and ONGC rose by Rs17.95 at Rs923.35.
Reality index spurted further by 139.04 points at 9,183.44 on the back of some construction company stocks such as DLF, Unitech and Sobha Developers notched up fresh ground.
Capital goods index rose by 127.71 at 14,520.17, metal index by 89.45 points at 12,812.76 and bank index by 51.16 points at 8,739.84.
Total turnover on the exchanges stood at Rs1,00,807 crore. Both exchanges set new records in terms of cash turnover achieved in a day. The Bombay Stock Exchange (BSE) posted a turnover of Rs8,723 crore, while the National Stock Exchange recorded Rs16,655 crore.
Morning, first update
Mumbai, The stock markets stabilized at higher levels with benchmark Sensex and Nifty showing hardly any change early this morning on alternate bouts of buying and selling amid mixed global cues.
Though the US interest rate cut have boosted the market sentiment here , operators are still wary over the spiralling global crude oil prices above $84 a barrel and impending nuclear issue between the UPA government and its key ally CPI(M).
The BSE 30-share Sensex opened steady at 16,352.32 and moved erratically in a narrow range of 16,392.21 and 16,314.04 before being quoted steady at 16,389 at 11.15 am from the last close of 16,347.95.
The broad-based S&P CNX Nifty of the National Stock Exchange (NSE) also ruled steady at 4,767 from previous close of 4,747.55.
Realty counters remained at the forefront on sustained buying while cement counters also attracted good buying support on news that some companies has raised prices of cement bags in Maharashtra.
Foreign Institutional Investors (FIIs) turned heavy net buyers and they picked up shares worth Rs 2,484.50 crore on September 19, pumping in another Rs 1,627.44 crore (provisional) on Thursday.
However, IT stocks continued to reel under heavy selling pressure on spiralling rupee upwards.
Mumbai: The Bombay Stock Exchange benchmark Sensex regained ground after a weak start to trade at 2 points up at 16,350 at 1045 hours on 21 September.
It had fallen nearly 24 points in the first five minutes of trading, on selling by funds in select key shares like Reliance Industries and Tata Consultancy.T
The broad-based National Stocks Exchange’s Nifty was up 7 points to to 4,755 after dipping 13.85 points at 4,733.70 points.
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First Published: Fri, Sep 21 2007. 05 53 PM IST
More Topics: Sensex | Nifty | Stock Exchange | BSE | NSE |