The Hindu : Business : Sensex touches new high

Online edition of India's National Newspaper
Saturday, Dec 02, 2006
ePaper

Business

Business

Sensex touches new high

MUMBAI: The country's key stock market indices leaped to new highs on Friday, responding to the over nine per cent economic growth in the first half of the current financial year while ignoring reports of a possible rate hike in the near future.

Enthused by a robust 9.2 per cent GDP growth in the July-September quarter and 9.1 per cent in the first half, institutional investors as well as operators enlarged commitments on the first day of new series. The Sensex opened firm at 13729.67 and gradually moved upwards to an all-time trading peak of 13857.81 before ending at a new closing peak of 13844.78, a rise of 148.47 or 1.08 per cent over Thursday's close.

The National Stock Exchange's S&P CNX Nifty crossed the 4000 level for the first time to a new trading high of 4001.30 before closing at a new peak of 3997.60, a rise of 43.10 points or 1.09 per cent over previous close.

After pulling out heavily from derivatives at the end of October series, foreign institutional investors were believed to have cornered sizeable chunk of shares during the day, brokers said. Mutual funds also were heavy buyers in a number of frontline counters at the weekend.

PTI

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

Business

News Update

Stories in this Section