Sensex in party mood; surges to 11,821.57 mark
Mumbai, Apr 18: Party in the equity markets continued for the second day today with the BSE Sensex gaining 281 points to close at an all-time high of 11,821.57.
The stock markets were fired up by good fourth quarter results of some of the blue chips, as well as the good economic outlook with 7.5 to 8 per cent GDP growth expectations in the current fiscal (2006-07) put forward today by Reserve Bank of India (RBI) in its credit policy announcements.
Taking yesterday's 302-point gain, the Bombay Stock Exchange (BSE) Sensitive Index (Sensex) has climbed up 584 points in just two sessions, after a sharp correction last week.
The National Stock Exchange (NSE) S&P CNX Nifty index was also up by 93 points to a new all-time high of 3,518.
Boosted up by impressive fourth quarter (Q4) results, the blue chips were up with handsome gains today even as Bajaj Auto shot up 8.54 per cent to a new all-time high above the 3,000-mark, at Rs 3,003.90.
Tata Consultancy Service too touched a new high as it gained 5.73 per cent to 2,012.70, after it announced impressive fourth quarter profit of more than 70 per cent and 1:1 bonus yesterday.
Wipro, which is announcing its fourth quarter results tomorrow, gained 5.49 per cent to Rs 570.15 on expectations of good results.
Oil and gas giant ONGC was up by 5.16 per cent to Rs 1,307.55, after it announced a profit of nine per cent on Sunday at Rs 14,175 crore in the last financial year (2005-06).
Reliance Industries gained 4.66 per cent to Rs 891.25 on expectations of good fourth quarter results.
Earlier, the BSE Sensex opened with a gain of 85 points at 11,624.97, as compared to the last close of 11,539.68 points.
Soon after opening, the 30-share index shot up 200 points to a high of 11,739, on the back of all-round buying.
The upward momentum took Sensex to the day's high of 11,834.77, before it finally closed at 11,821.