The Hindu : Business : Sensex crosses 11800-mark

Online edition of India's National Newspaper
Wednesday, Apr 19, 2006

Business

Business

Sensex crosses 11800-mark

MUMBAI: Enthused by excellent fourth quarter earnings of IT major TCS and an overwhelming response to Reliance Petroleum's public issue, investors bet heavily on the market, whose benchmark index rose by a steep 282 points on Tuesday.

IT and refinery stocks were in the limelight throughout following hectic buying support from operators and domestic mutual funds.

After a firm start at 11,624.97, the Bombay Stock Exchange benchmark 30-share index (Sensex) later soared to the intra-day high of 11,834.77 before closing at 11,821.57 against 11,539.68, a net rise of 281.89 points or 2.44 per cent. The Sensex has jumped by 584.34 points or 5.2 per cent in two days, the largest gains in the current year. After Infosys Technologies, TCS also reported a 76.38 per cent growth in net profit for the fourth quarter and announced a maiden 1:1 bonus to the shareholders.

The overwhelming response to the public issue by Mukesh Ambani-controlled Reliance Petroleum boosted sentiment. Mutual funds reported hefty net purchases of Rs. 521.52 crore on April 13. — PTI

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