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Sensex rolls back from 21k, ends up 61 pts

Sensex rolls back from 21k, ends up 61 pts
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First Published: Tue, Jan 08 2008. 04 20 PM IST
Updated: Tue, Jan 08 2008. 04 20 PM IST
Mumbai: Sensex crossed the crucial milestone of 21,000 points during intra-day today before rolling back to nearly 20,873 level, still higher by more than 60 points over its previous close.
The Sensex, which crossed key landmark of 21,000 points in nearly 49 trading sessions, rolled back on some profit selling at existing higher levels and ended 60.68 points up at 20,873.33 compared to its yesterday’s close.
The key-index touched the day’s high of 21,077.53 and a low of 20,696.60 points.
The National Stock Exchange index Nifty too rose by 8.75 points to 6,287.85, after touching the day’s high of 6,357.10 and a low of 6,221.60 points.
The major support to the market came in from oil and gas, which shot up by 76.97 points at 14,051.27 as the segment major Reliance Industries zoomed to record high levels.
The second best sector today was the capital goods which rose 64.36 points to 20,214.92. IT index firmed up by 49.32 points at 4,244.75 and teck index by 41.48 points at 3,905.16.
However, a heavy fall in metal index by 603.62 points to 19,538.34 pulled down the market from peaks. Consumer durable index also fell by 198.52 points at 6569.64 followed by PSU index by 186.79 points at 10,801.50.
A crack in the surging market developed after a steep fall in small cap and mid-cap stocks. The small cap index dropped by 459.06 points at 13,516.13 and mid-cap by 285.16 points at 9,817.07.
Mumbai: After hitting the 21k mark, Sensex was trading at 20,936.33 points, up 123.68 points at 1223 hours.
The broad-based Nifty rose by 26.85 points to trade at 6,305 at 1223 hours.
Late Morning
Mumbai: Sensex briefly turned negative in late morning trade on Tuesday, after it had hit a record high in opening deals.
At 11:09 am, the 30-share BSE index was was up 0.08%, or 16.70 points at 20,829.35, but 20 of its components were down.
The index had fallen as much as 0.12% to a low of 20,786.79.
It hit a record high of 21,077.53 in early deals.
Mumbai: Sensex, today scaled the 21,000 peak in early morning trade, adding the last 1,000 points in 49 trading sessions.
The 30-share barometer, witnessed a surge of 264.88 points to touch an intra-day high of 21,077.53 points in early trade on expectations of robust corporate earnings and increased FII activity in the new calendar year.
The BSE benchmark completed its 1,000-point journey in 49 business days after touching the 20K milestone on 29 October, last year.
“The capital market is strongly bullish on the back of expectations that Foreign Institutional Investors would step up their purchases, besides, expectations of encouraging corporate results for the third quarter triggered the momentum,” a broker said.
In October 2007, the benchmark Sensex scaled three milestones and covered a 3,000 points journey in just 14 days.
The bellwether index crossed the 20,000 mark in 10 days. The fastest 1,000-point journey, that the Sensex made was of four trading sessions when the Sensex rallied from 18,000 to 19,000 points between 9 October and 15 October.
The journey between 17,000-18,000 had taken eight trading sessions. The bellwether, index travelled from 16,000 to 17,000 points in six days in September 2007.
The stride from 14,000-15,000 points had taken 143 trading sessions. The 15,000 level was reached on 6 July. This was the longest 1,000-point march since the Sensex touched the five-figure level of 10,000 in February last year.
The index took 26 days to move from 13K to 14K, 132 days from 12K to 13K, 19 days from 11K to 12K, 33 days for 10K to 11K, 48 days from 9K to 10K, 54 days from 8K to 9K, 55 days from 7K to 8K, and as many as 1,124 sessions between 6K and 7K.
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First Published: Tue, Jan 08 2008. 04 20 PM IST
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