Sensex rises 338 pts, regains 20k level

Sensex rises 338 pts, regains 20k level
PTI
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First Published: Wed, Dec 26 2007. 04 17 PM IST
Updated: Wed, Dec 26 2007. 04 17 PM IST
Closing
Mumbai: Sensex rose 338 points today on frantic buying by funds and retail investors in fundamentally strong metal, refinery and capital goods sectors.
The 30-share index regained the 20,000 mark, which it lost on 17 December.
The Sensex, which recorded a hefty gain of 691 points in the last trading, added another 338.40 points at 20,192.52, after touching the day’s high of 20,211.47 and low of 19,896.61 points.
The second wide-based National Stock Exchange index, Nifty, also shot up by 85.65 points at 6,070.75. It surged to an intra-day high of 6,085.25 and dipped to 5,988.45 points.
The major support to the market came from metal stocks as the segment index gained the most by 470.55 points at 19,291.34, followed by oil and gas index by 437.67 points at 13,115.99. Capital goods index rose by 430.43 points at 19,654.31 and realty index by 291.47 points at 12,109.99.
PSU index rose by 196.22 points at 10,026.23, while banking index increased by 188.34 points at 11,290.08, power index by 90.55 points at 4,443.76, consumer durable index by 85.98 points at 6,227.46 and auto index by 56.07 points at 5,642.90.
Late Afternoon
Mumbai: Sensex rose by over 345 points today, regaining the crucial 20,000 points level on emergence of funds buying at the fag end of trading.
The 30-share index, which had recorded over 691 points in the last trading, added 344.55 points to 20,198.67 at 1400 hrs. The key-index fell below 20,000 points level on 17 December.
The major supporters to the market were stocks in steel, banking, capital goods and refinery segments, mostly attributed to reports that Tata Steel might raise prices of the product next month.
The second wide-based National Stock Exchange’s Nifty rose by 63.90 points to 6,049.
Forenoon
Mumbai: Sensex rose during morning trade as investors continued to roll over positions to January series.
Operators and Foreign Institutional Investors (FIIs) were also covering short positions ahead of the expiry of December contract in derivatives.
Continuing early gains on the back of firm global cues and brisk buying by funds Sensex added 221.86 points at 1132 hours to trade at 20,075.98.
The broad-based National Stock Exchange index also rose by 54.95 points to 6,046.05 at 1132 hours.
The market is expected to remain strong due to continued roll over and short covering of positions by investors at the end of derivative series, market players said.
Opening
New Delhi: Sensex rose by 182 point in early trade today on sustained buying by funds and general investors.
The 30-share index, Sensex, which gained 691 points on Monday, went up by 181.88 points to 20,036 points in the first five minutes of trade as heavy-weight stocks like Reliance Industries, SBI, Infosys and Tata Steel recorded significant gain.
The National Stock Exchange index, Nifty, also rose by 41 point to 6,026.10 points.
Buying sentiment was also boosted by firm global cues.
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First Published: Wed, Dec 26 2007. 04 17 PM IST
More Topics: Stocks | Shares | Markets | Sensex | Nifty |