Sensex breaches 12,900 mark, 13k is not far!

Mumbai, Oct 27: The Bombay stock Exchange Sensitive index (Sensex) today stood true to the expectation by closing at 12,906.81, up by 208.40 points, as strong buying was noticed in the Oil&Gas and Technology sector.

After opening in the green the Sensex maintained its momentum through out the day and never slipped into the negative zone. It touched a high of 12,921.23 and a low of 12,741.85 points, showing a swing of 180 points in the intra-day trade.

Experts are of the opinion that this momentum will now continue for some time to come and the 13k mark will be breached soon. Most of the companies will finish their financial declaration by the mid of next month and by then the probability of Sensex crossing the 13k figure is very high, they added.

Investors are also busy rolling-over their positions into the November derivatives after the successful closure of October derivatives contract on October 26.

The breadth too in the broader market turned positive in favour of 1,307 advances as against 1,196 declines out of total 2,585 scrips that traded on the BSE counters today.

Oil and Gas was the top performer on the BSE sectoral indices with a gain of 2.90 per cent and was diligently followed by Technology and the PSU sectors both up by 1.88 and 1.79 per cent, respectively.

Major gainers on the BSE-30 index were - Bharti Airtel up by 4.55 per cent to Rs 527.30, Reliance Communications up by 4.52 per cent to Rs 384.70, Reliance Industries up by 4.05 per cent to Rs 1,222.85, Reliance Energy up by 3.28 per cent to Rs 481.40, Grasim Industries up by 2.93 per cent to Rs 2,711.25, Dr Reddy's lab up by 2.61 per cent to Rs 730.35, SBI up by 2.57 per cent to Rs 1,093.15, NTPC up by 1.94 per cent to Rs 128.80, ITC up by 1.90 per cent to Rs 187.80 and Tata Motors up by 1.67 per cent to Rs 886.30.

Besides the losers on the index were, ONGC down by 31.59 per cent to Rs 789.30, Hindalco down by 0.72 per cent to Rs 187.15, TCS down by 0.33 per cent to Rs 1,076.40, Tata steel down by 0.18 per cent to Rs 500.45 and L&T down by 0.05 per cent to Rs 1,270.20.

UNI

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