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Sensex closes above 19K, 394 pts up

Sensex closes above 19K, 394 pts up
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First Published: Mon, Nov 26 2007. 04 31 PM IST
Updated: Mon, Nov 26 2007. 04 31 PM IST
Mumbai: The stock markets continued its uptrend for the second day today with the benchmark Sensex surging by over 394 points on the Bombay Stock Exchange.
The 30-share Sensex, which recorded a gain of 326 points on Friday, extended gains by 394.67 points to cross the psychological 19K mark and closed at 19,247.54.
Earlier, it touched the day’s high of 19,360.23 and a low of 19,137.66.
Similarly, the wide-based National Stock Exchange index Nifty rose by 123.10 points to 5,731.70. It touched the day’s high of 5,772.55 and a low of 5,608.95 points boosted by a sharp rise in heavyweight stocks in metal and capital goods segment stocks.
Metal index gained the most by 930.46 points at 17,524.54, followed by capital goods index by 435.53 at 19,751.65. Realty index rose by 297.91 points to 10,081.27 and oil and gas index by 227.81 points to 12,215.28. PTI
Afternoon
Mumbai: Indian share prices rose 2.14% by midday Monday on firm Asian trends, helped by Wall Street’s rebound and strong consumer spending at the start of the US holiday season, dealers said.
Capital goods, banking, property and metal stocks were the main gainers.
The benchmark 30-share Sensex index climbed 404.3 points to 19,257.17, off the day’s high of 19,360.23.
The Sensex gained 326.55 points last Friday.
“The markets took clues from Asian gains, which bounced back smartly on Monday. We expect the markets to remain volatile at higher levels,” said a dealer at brokerage Prabhudas Lilladher.AFP
Late Morning
Mumbai:Sensex opened on a strong footing at 19,171.25 and rallied further to a high of 19,310.56 within a couple of minutes from opening of trade, a rise of 457.69 points over Friday’s close of 18,852.87.
Later, it was quoted at 19,285.16 at 1030 hours.
Similarly, the broad-based S&P CNX Nifty of the National Stock Exchange also shot up by 140.95 points to quote at 5,749.55 at 1030 hours from previous close of 5,608.60.
Dealers attributed surge in share values to positive cues from Asian stock markets mainly buoyed by smart rally on Wall Street last weekend.
All Asian indices were quoted up by an average of 0.5% to 3.5% this morning.
All 30 index-based shares trading in positive as well as all sectoral indices also showed uptrend.
Short-coverings ahead of the expiry of November contract on coming Thursday also boosted the market sentiment.
Top heavyweight and petro-chem giant, Reliance Industries was in demand on news that the company has sold 4.01% of the equity in its subsidiary company Reliance Petrochemical by transaction through the stock exchanges to help maximise shareholder value. PTI
Opening
Mumbai: Sensex gained 458 points in early trade today on brisk buying by funds.
The 30-share index, which closed with a gain of 326 points on Friday, shot up by 457.69 points to 19,310.56 point in the first five minutes of trade.
The wide-based National Stock Exchange index, Nifty, rose by 129.25 points to 5,737.85 as most of the heavy-weight shares recorded notable gains.
The trading sentiment was boosted by reports of a steep rise in Asian stock markets such as Hang Seng and Kospi.PTI
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First Published: Mon, Nov 26 2007. 04 31 PM IST
More Topics: Stocks | Shares | Sensex | Nifty | BSE |