The Hindu : Business : Sensex touches 12000 mark

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Friday, Sep 15, 2006
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Business

Sensex touches 12000 mark

MUMBAI: Buying activity influenced by a firm global trend helped India's stock market bellwether Sensex once again break the 12000 barrier, but it eased marginally to finish at 11973.02, still up by 79.23 points.

The index, which had last seen this level on May 18, touched an intra-day high of 12003.68.

Dealers attributed the bullish fervour to firm global advices and renewed buying by foreign funds. The rally was once again led by banking counters on expectations of a pause in interest rates hike on the back of a fall crude oil prices.

Apart from index-heavyweight, Reliance, shares from IT, metal, cement and fast moving consumer goods segments also found good support and ended with sharp to moderate gains, helping the Sensex to complete three-day winning streak.

The 30-share index opened firm at 11936.80 as against yesterday's close of 11893.79 and after moving in a range of 12,003.68 and 11,892.24, concluded at 11,973.02, a sharp rise of 0.67 per cent.

Foreign Institutional Investors (FIIs) reportedly pumped in Rs 682.50 crore on Wednesday in derivatives after heavy pull-out in the last six sessions while injecting worth Rs 265.35 crore in cash on the same day as per provisional data. Local mutual funds also purchased shares worth Rs 112.47 crore on Tuesday, brokers said. — PTI

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