The Hindu : Business : Sensex scales new peak

Online edition of India's National Newspaper
Friday, Aug 12, 2005

Business

Business

Sensex scales new peak

Good corporate results, firm Asian advices bolster sentiment

MUMBAI: Notching up another sharp 86.69 points, the Sensex on Thursday crossed the 7800 mark for the first time at the close to log a new high of 7816.51 on the Bombay Stock Exchange following heavy foreign institutional investor buying and short-covering by retail operators.

Despite surging oil prices at over $65 a barrel, foreign institutional investors kept up their buying tempo and drove the benchmark to fresh closing peak with sentiment distinctly positive for more gains, dealers said.

With Thursday's gain, the Sensex had displayed a handsome rise of 220.94 points or 2.91 per cent in the last two days.

The BSE benchmark 30-share index opened firm at 7749.01 against yesterday's close of 7729.82 and later rallied to the day's high of 7842.55, a shade lower than the all time intra-day high of 7843.77 recorded on August 3, before ending at 7816.51, showing a smart gain of 1.12 per cent over the last close. The previous all time closing high was 7797.08 hit on August 4. Sentiment was also bolstered by reports that a number of companies have surpassed the net profit for the whole of last year in just three months of the current fiscal.

Another encouraging factor was firm Asian advices as Nikkei firmed up by 165.24 points, Hang Seng by 98.79 points and Kopsi by 18.91 points. — PTI

Printer friendly page
Send this article to Friends by E-Mail

Business

News Update

Stories in this Section