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Sensex races towards 21000-mark

MUMBAI: The Bombay Stock Exchange sensitive index raced towards the 21000-mark on Monday as it gained almost 125.76 points to settle at a new high of 20,812.65 on buying by investors amid expectations that companies will report robust earnings starting this week. The Sensex closed at 20686.89 on Friday.

ICICI Bank led the gainers with a rise of over six per cent. Reliance Industries, Reliance Communications and FMCG major ITC also rose.

The Sensex recovered from the initial weakness and closed 125.76 points higher, extending its gains to the second straight day on expectations of good third quarter earnings, and a firm start in the European markets.

The rupee came off from near its 10-year higher levels but still ended strong by five paise at 39.29/30 against the dollar on expectations of heavy allocation of foreign funds in near future in initial public offers and smart recovery in the equity markets.

In active trade at the interbank foreign exchange market, the local unit opened steady at 39.33/35 a dollar against Friday’s close of 39.34/35. Later, it improved to intra-trade high of 39.20 just near its previous 10-year high of 39.16 attempted on November 7, 2007. — PTI

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