The Hindu : Business : Sensex bounces back to end at all-time high

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Thursday, Jul 07, 2005

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Business

Sensex bounces back to end at all-time high

MUMBAI: The Sensex bounced back and ended at an all-time high of 7287.60 on the Bombay Stock Exchange on Wednesday, on revival of heavy all-round buying. The index heavyweights ended with notable gains.

Right from the onset of business, share values rallied after an early end of the Ayodhya issue and operators once again started buying selectively, while foreign institutional investors continued their buying spree in blue chip shares, dealers said.

The BSE-30 share sensitive index resumed higher at 7227.22 as against Tuesday's close of 7220.25 and shot up further on increased buying, before closing at a life-time high of 7287.60, revealing a handsome gain of 67.35 points or 0.93 per cent over the previous close.

The previous all-time closing high was on Monday last when it ended at 7277.31.

Index-based shares such as Reliance, Infosys, BHEL, HDFC, Dr. Reddy's, Satyam Computer, SBI, Grasim, HDFC Bank, L&T, NTPC, Reliance Energy, Tata Power, Tata Steel, ACC, Bharti and Cipla notched up sharp to moderate gains, mainly contributing to the Sensex rise.

Positive Wall Street advices also partly aided the firm trend. The Dow Jones Industrial Average and the Nasdaq Composite Index rose by 68.36 points and 21.38 points. Markets even ignored the rising world crude oil prices which rose to near $60 at $59.88 per barrel. The broad-based BSE-100 index recovered by 42.94 points to 3878.62 from the previous close of 3835.68. — PTI

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