Sensex spurts by 145 pts, touches 13,282.91 lvl

Mumbai, Nov 10: The Sensex today surged to a new high of 13,282.91, up by 145.42 points, on the Bombay Stock Exchange (BSE) on sustained heavy speculative buying support from Foreign Institutional Investors (FIIs).

The market witnessed across the board buying and the Sensex kept on advancing as trading progressed, registering an all-time high of 13,303.85 during the late-afternoon session. The previous all-time high was 13,000.69 on November 7. The market was banking on a strong set of industrial production figures, and a dip in inflation.

The low for the day was 13,104.98.

The S&P CNX Nifty of NSE rose 45.25 (1.19 per cent) to 3,842.40 points during the intra day, before it resumed flat at 3,796.05 points. Finally it closed high at 3,834.75 points with smart gains of 38.35 from it the previous close of 3,796.40 points.

The total turnover on BSE amounted to Rs 4,541 crore, higher than yesterday's Rs 4,263 crore.

The Nikkei booked its lowest close in more than a month today, slipping 0.53 per cent after Japanese machinery orders data came in weaker than expected and heightened concern about the outlook for the world's second-largest economy.

The Nikkei finished down 86.14 points, at 16,112.43, its lowest close since October 4.

The Hang Seng index lost 61.72 points (0.33 per cent), to 18,891.14.

US stocks fell for the first time in three days yesterday, due to a drop in the shares of big drug makers and health-care companies as investors were worried that a Democrat-controlled Congress may curb prices. A jump of more than 2 per cent in crude price and a weaker-than-expected reading in a gauge of consumer sentiment, added to the weaker tone. The Dow Jones industrial average was down 73.24 points, or 0.6 per cent, to close at 12,103.30. The Nasdaq Composite Index was down 8.93 points, or 0.37 per cent, to end at 2,376.01.

Oil was steady above USD 61 a barrel after surging more than 2 per cent on Thursday. OPEC is lowering output and members have said it may cut supply further in December -- as demand is nearing its seasonal peak due to the Northern winter, brokers said.

UNI

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