Sensex ends above 9K in New Samvat 2065

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Mumbai, Oct 28 (UNI) Breaking the four session losing streak, The Sensex of the Bombay Stock Exchange today crossed the 9K mark in an hour's special Muharat trading for Vikram samvat 2065 and ended in green at 9,008.08 with a huge gain of 498.52 points from its last finish of 8509.56 on fresh speculative demand from mutual funds and firm global clues.

Similarly, the Nifty index of National Stock Exchange (NSE) also rose by 160.40 points and closed in positive terrain at 2684.60 points from its last close of 2524.20.

Brokers said it was a strong Muhurat trading session for the stock market. Benchmark indices rebounded sharply in Samvat 2065 and the positive trend in global markets also aided the sentiment.

The Nifty remained above 2600 mark throughout the session and the BSE Sensex clawed back above 9000 level.

Firm global markets and relaxation of creeping acquisition norms for promoters boosted the battered bourses in the session to mark the strong beginning of the Samvat year 2065.

In a bid to salvage the sinking stock market, Securities &Exchange Board of India (SEBI) yesterday, after the BSE&NSE closed, relaxed creeping acquisition rules to 75 per cent for promoters. Earlier, promoters were allowed to raise 5 per cent a year through the creeping acquisition route only till they reached 55 per cent stake.

The BSE 30-share Sensex jumped 547.41 points at the day's high of 9056.97 in early trade. At the day's low of 8,909.34, the Sensex rose 399.78 points. The S&P CNX Nifty also recorded the day's high at 2,695.95 points and a low at 2526.20 points.

The BSE Mid-Cap index rose 6.45 per cent to 3,157.46 while BSE Small-Cap index jumped 6.69 per cent to 3,711.61. Both the indices outperformed the Sensex.

The BSE clocked a turnover of Rs 675 crore. The market breadth, indicating the overall health of the market, was strong with 1860 shares rising compared with 437 declining. A total of 61 shares remained unchanged.

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