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Sensex spurts over 691 points, IT stocks lead rally

Sensex spurts over 691 points, IT stocks lead rally
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First Published: Mon, Dec 24 2007. 04 34 PM IST
Updated: Mon, Dec 24 2007. 04 34 PM IST
PTI
Closing
Mumbai: The Sensex recorded a surge of over 691 points on the Bombay Stock Exchange (BSE) on 24 December on the back of a steep rise in IT and media stocks.
The 30-share BSE barometer shot up 691.55 points to 19,854.12 points as concerns of inflation in US eased with consumer spending picking up.
The key-index touched the day’s high of 19,879 points and a low of 19,308.20 points.
The IT index gained the most, led by Infosys Technologies, by 260.98 points at 4,581.61 followed by teck index by 185 points at 3,961.96. Over 50% of software revenue comes from the US markets.
The National Stock Exchange index Nifty also rose by 218.60 points to 5,985.10. It touched the day’s high of 6,001.05 and a low of 5,771.30 points.
The market also got support from Metal sector index which rose 547.79 points at 18,820.79, capital goods index (498.19 points, 19223.88), oil and gas index (432.28 points, 12,678.32), bank index (363.15 points, 11,101.74), PSU index (317.11 points, 9,830.01) and realty index (204.44 points, 11,818.52).
Morning
Mumbai: The Bombay Stock Exchange benchmark Sensex rose by 470 points on 24 December in early trade on brisk buying by funds and general investors.
The 30-share Sensex, which closed 71 points up on Thursday, shot up by 470.24 points to 19,632.81 points in the first five minutes of trade.
Similarly, the wide-base National Stock Exchange index, Nifty, spurted by 141.50 points to 5,908 points.
The buying activity was wide-base and lifted almost all the sectoral indices.
The major support to the market came in from stocks of Reliance Industries, Infosys, Tata consultancy, Tata Steel and BHEL.
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First Published: Mon, Dec 24 2007. 04 34 PM IST