The Hindu : Business : Sensex moves up further

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Thursday, Dec 27, 2007
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Sensex moves up further

MUMBAI: The Bombay Stock Exchange benchmark Sensex on Wednesday closed past the 20000-mark again, gaining 338 points as buying support gathered momentum following the government’s decision to allow trusts to invest in securities. The BSE barometer closed at 20192.52, a net rise of 338.40 points or 1.70 per cent over Monday’s close of 19854.12. Reliance Industries, State Bank of India, L&T, Tata Steel, Reliance Energy and BHEL were among the major gainers.

The broader S&P CNX Nifty of the National Stock Exchange gained 85.65 points or 1.43 per cent to close at 6070.75 against the previous close of 5985.10.

The government’s decision to amend the Indian Trusts Act to enable trusts to invest in securities, including shares and bonds of listed companies, was expected to further boost the stock market, analysts observed. Sentiment was aided by a firm trend in Asian markets while European markets remained closed for Christmas.

Rupee gains further

The rupee closed marginally higher at 39.4150/4250 a dollar on inflow of funds into the stock market.

It closed at 39.44/45 a dollar on Monday. The Indian unit has gained 17.50 paise in the last three sessions as anticipated dollar demand failed to emerge in the view of Christmas holidays in global markets.

In fairly active trade at the interbank foreign exchange market, the local currency moved in a range of 39.37 and 39.44 after a steady start at 39.42/44 a dollar. — PTI

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