The Hindu : Business : Sensex crosses 6900 mark

Online edition of India's National Newspaper
Thursday, Jun 16, 2005

Business

Business

Sensex crosses 6900 mark

MUMBAI: Notwithstanding widening trade deficit coupled with the delay in monsoon and high oil prices, the Sensex on Wednesday breached the crucial 6900-mark and settled at the three-month high of 6906.98, within striking distance of the psychologically important 7000-level.

The BSE barometer had closed at the all time peak of 6915.09 on March 8 and touched the intra-day high of 6954.86 on March 9 before entering a correction phase.

The BSE benchmark 30-share index opened moderately higher at 6876.79 and remained range-bound moving between 6916.33 and 6858.08 before ending the day at 6906.98 against yesterday's close of 6860.18, a net rise of 46.80 points.

Foreign institutional investors, who reported net sales of Rs. 2,131.30 crore on June 13 reportedly due to the ADR conversion of Infosys Technologies, were believed to be heavy buyers in heavy-weighted counters.

Financial institutions made purchases in select blue chip stocks, brokers said adding that the participation from operators and retail investors too had increased.

— PTI

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