The Hindu : Business : Sensex ends past 14000 mark

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Friday, May 04, 2007
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Sensex ends past 14000 mark

MUMBAI: The stock markets bounced back with a vengeance after a two-day slide as the Bombay Stock Exchange (BSE) benchmark Sensex ended above 14000 mark on Thursday, registering a sharp rise of 206 points, boosted by strong global cues and excellent financial results announced by HDFC.

Reliance Industries attracted brisk activity as foreign institutional investors made heavy purchases in shares of the petro giant, which soared by 4 per cent to a new closing peak of Rs. 1,623.10.

The 30-share Sensex opened firm at 13987.77 and gradually moved upward to the intra-day high of 14107.06 before ending the day at 14078.21 against Monday's close of 13872.37, netting a gain of 205.84 points or 1.48 per cent.

The Sensex had fallen by 357 points or 2.51 per cent in the preceding two trading sessions.

The broader S&P CNX Nifty of the National Stock Exchange (NSE) spurted by 62.95 points or 1.54 per cent to close at 4,150.85 from previous close of 4,087.90.

Investors, particularly FIIs, were believed to be heavy buyers in select frontline counters including Infosys Technologies and Reliance.

Buoyed by firm Asian trend, retail investors made heavy commitments in response to outstanding fourth quarter performance by HDFC, which was far beyond market projections, brokers said. — PTI

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