The Hindu : Business : Sensex touches 14000-mark

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Wednesday, Dec 06, 2006
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Sensex touches 14000-mark

MUMBAI: Steep rally in metal shares and petrochem giant, Reliance Industries (RIL), helped the Bombay Stock Exchange Sensex to cross the 14000-mark on Tuesday and hit an all-time intra-day peak of 14028.47 as the bull-run extended to a neat five sessions.

Metal counters were at the forefront on firm advices from London Metal Exchange (LME), dealers said, adding that among the top heavyweight and refinery major, RIL, attracted good institutional buying support on news that the company was buying out Gujarat-based Adani Retail.

The BSE-30 share sensitive index opened sharply higher at 14028.47, an all-time high, against Monday's close of 13874.33. However, fall in bank and automobile shares on emergence of profit-taking at higher levels, pulled down the Sensex to a low of 13905.65, before concluding at a new peak of 13937.65, still showing a smart rise of 63.32 points.

The Sensex took just 26 sessions to reach the landmark of 14000-mark from 13000. It had touched the 13000-mark on October 30.

The broader S&P CNX Nifty of the NSE also ended at yet another peak of 4015.75 from Monday's close of 4001, a net rise of 14.75 points.

The trading volume was relatively low at Rs. 4,779.34 crore against Rs. 4,842.05 crore on Monday. — PTI

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