The Hindu : Business : RIL leads rally, Sensex closes at 12348

Online edition of India's National Newspaper
Friday, May 05, 2006

Business

Business

RIL leads rally, Sensex closes at 12348

MUMBAI: The key stock market index (Sensex) on Thursday moved up marginally to 12,347.63, a new closing high, even as Reliance Industries' scrip gained handsomely in volatile trading. The BSE benchmark 30-share Sensex started firm at 12,343.63, but later moved to extremes in a range of 146 points. The index touched an intra-day high of 12,482.91 and the day's low of 12,264.14, only to recover and close at 12,347.63, revealing a gain of 36.91 points over the previous day's close. Similarly, on the NSE, the S&P CNX Nifty firmed up by 14.15 points to close at a new high of 3648.40 against the previous day's close of 3634.25.

Brokers said RIL attracted heavy buying on reports of its Rs. 30,000 crore SEZ in Haryana getting clearance and shot up to an all-time high of Rs. 1122. But it soon eased and closed at Rs. 1079.15, still showing an impressive gain of Rs. 44.40.

Elsewhere, shares in the oil and gas sector rallied after Finance Minister P. Chidambaram's statement that the Government could afford to defer a price hike in petrol and diesel.

Bank shares were in keen demand.

PTI

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