BSE Sensex hits 20K level, gains 280 points

Mumbai, Dec 6: The benchmark sensex at Bombay Stock Exchange hit the 20K level at the gain of 280 points to open at 20,018.17 in the early trade on stron global cues.

Firm global markets boosted the domestic bourses with the Sensex hitting 20,000 level in early trade. Metal, power, banking, and auto stocks were in focus. Market breadth was strong. 27 out of 30 stocks from the Sensex pack were in the green. Asian markets, which opened before Indian markets, were in green, traders said.

The 30-share BSE Sensex rose 223 points or 1.12pc to 19967.59.

Sensex hit a high of 20,064.31 in early trade. At day's high, Sensex had gained 326.24 points.

Sensex had hit all-time high of 20,238.16 on 30 October 2007 but was not able to sustain at higher levels and it is yet to close above the psychological 20,000 level.

The BSE Mid-Cap index was up 1.42% to 9,181.37. The BSE Small-Cap index was up 1.99pc to 11,496.24. Market breadth was strong. In BSE, 1844 stocks advanced, 264 stocks declined and 33 stocks remained unchanged.

Major stocks like Reliance Industries rose 1.18pc to Rs 2937, ICICI Bank gained 1.88pc to Rs 1183.50 and Infosys Technologies rose 1.11pc to Rs 1621.

NTPC gained 2.17 pc to Rs 249.45, ITC rose 1.77 pc to Rs 196, Mahindra&Mahindra rose 1.65 pc to Rs 786.50, HDFC Bank rose 1.63pc to Rs 1755.70 and Ambuja Cements gained 1.46pc to Rs 156.

UNI