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Sensex up 58 points, pares early gains

Sensex up 58 points, pares early gains
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First Published: Thu, Dec 06 2007. 05 21 PM IST
Updated: Thu, Dec 06 2007. 05 21 PM IST
Mumbai: The Bombay Stock Exchange benchmark Sensex gained nearly 58 points on 6 December, but failed to sustain the higher levels it saw during the day.
After touching a high of 20,064.31 on opening, the BSE barometer moved irregularly on alternate bouts of buying and selling. It ended the day at 19,795.87, a rise of 57.80 points, or 0.29%, over the last close of 19,738.07.
Analysts said the market has breached the 19,750-level, also known as breakout level, paving the way for an anticipated, long bull run.
This is the sixth time since 29 October that the Sensex has breached the 20K mark during trading but could not close above the crucial level.
The 50-share S&P CNX Nifty of the National Stock Exchange (NSE) hit an all-time high of 6,027.05 points, but closed at 5,954.70, a net gain of 14.70 points, or 0.25%.
Attributing the surge to buoyant global cues and positive FII activity the previous day, market players said key Asian indices, except Shanghai Composite, remained firm on the back of stocks rally in Wall Street on Wednesday.
As per provisional data, Foreign Institutional Investors (FIIs) were net buyers to the tune of Rs480.18 crore on November 5.
Metal, oil & gas, PSU and consumer durable, which had risen sharply in the past few sessions, suffered a sharp setback due to profit booking by investors.
Morning update
Mumbai: The BSE benchmark Sensex, which opened past 20K in early trade, was up 233 points at 10.30am on 6 December, while the NSE index, Nifty, breached 6K level on the back of strong global cues.
Nifty crossed 6,000 for the first time after more than a month and hit an all-time trading high of 6,027.05. It had last surpassed 6K on 1 November.
The BSE barometer was quoted at 19,970.63 at 10.30am, a rise of 232.56 points over the last close of 19,738.07.
Earlier, the Sensex crossed the psychologically 20,000 mark in 11 trading sessions but had failed to hold on to its post.
Commenting on the surge, market players said the bourses will witness a strong rally if the Sensex today closed above the 19,750 breakout level.
Besides a sharp rally in global markets, Foreign Institutional Investors (FIIs) reported net purchases of Rs480.18 crore as per the provisional data.
Mumbai: In a bull run at the bourses, both, the Sensex and the Nifty, regained their lost fort on 6 December touching the 20K mark and 6K level respectively in early morning trade.
The Bombay Stock Exchange barometer, Sensex, gained 326.24 points to touch 20,064.31 points in the first five minutes of trade as most of the heavy weight stocks opened in the positive zone.
Similarly the wide-based National Stock Exchange index, Nifty, rose by 87.05 points to 6,027.05 points.
The trading sentiment was boosted as foreign fund turned net buyers influenced by firm global cues.
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First Published: Thu, Dec 06 2007. 05 21 PM IST
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