The Hindu : Business : Sensex up 170 points

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Saturday, Dec 08, 2007
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Business

Sensex up 170 points

MUMBAI: The Bombay Stock Exchange (BSE) benchmark Sensex on Friday ended more than 170 points up, but fell short of the 20000-milestone, defying pressure during mid-session amid Centre’s caution that increased capital inflows could hurt the economic growth.

The broader S&P CNX Nifty of the National Stock Exchange scaled a new intra-day peak of 6042.10 and also ended at a new high of 5974.30 against the previous close of 5954.70.

Breaching the 20000-level again at the outset, the Sensex fell sharply and was down 89 points at 19706.43 around mid-session after the Government said that heavy capital inflows could endanger growth and price stability.

The BSE barometer later recovered and ended at 19966.00, a net rise of 170.13 points or 0.86 per cent, over Thursday’s close of 19,795.87.

Buying emerged at the day’s lower levels and helped the market recover at close. Operators and institutional investors reportedly made heavy purchases at the fag end of the day. IT, bank and realty shares attracted brisk activity and registered handsome gains.

Edelweiss listing

Edelweiss Capital will list its shares on the bourses on December 12, a BSE circular stated.

The IPO was subscribed over 110 times and the issue price per share has been fixed at Rs. 825.

Rupee appreciates

The rupee on Friday strengthened by eight paise to 39.40/41 against the dollar on increased capital inflows into the equity markets and dollar selling by banks.

The rupee had remained steady 39.4850/4950 on Thursday. In active trade at the interbank foreign exchange market, the local currency opened higher at 39.43/45 a dollar and later moved in a range of 39.37 and 39.47 during the day.

The RBI fixed the reference rate for the U.S. currency at Rs. 39.41 a dollar and for the single European unit at Rs. 57.58 per euro. — PTI

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