Record breaking spree continues on BSE

Mumbai, Nov 15: The record breaking spree continued unabated on the Bombay Stocks Exchange(BSE) today with the Sensex closing at a new peak of 13,469.37, up by 43.87 points due to firm global bourses and strong Foreign Institutional Institutions(FIIs) support.

The overnight surge in US stocks and a steep fall in the prices of U S crude oil, which eased worries of rate hike by the Federal Reserve, cheered markets across the world on Wednesday.

The volatility was high. The Sensex had lost about 35 points for the day, at one point of time in early trade, in contrast to an early 80 point surge. It had pared the gain in late trading, hitting a new high of 13,506.08. It came off the higher level in the last half an hour of trade mainly due to a weakness in index heavyweight Reliance Industries (RIL). The BSE Sensex swung 115.29 points for the day, between 13,390.79 and 13,506.08.

The Sensex resumed high at 13,476.28 with handsome gains of around 51 points from it's previous close of 13,425.50. Meanwhile, it eased to 13,390.79.

The BSE BANKEX index also shot up smartly by 196.21 to close at 7060.23 points while BSE PSU index spurted up by 49.04 and was quoted at 6138.47.

But BSE OIL and GAS Index crashed by 50.60 to close at 6217.06 while SML CAP and CG indices also declined by 21.66 and 20.50 points respectively and quoted at 6501.62 for SML CAP and for CG index at 8,813.53.

S and P C N X Nifty index of National Stock Exchange (NSE) closed an all time high of 4876.30 with modest gains of 11.60 points from it previous day's close of 3,865.90. Before it opened flat at 3,865.95.

The Nifty index recorded a new high of day's level of 3888.80. But subsequently came down at 3838.25.

The market-breadth was weak. 1,509 shares declined on BSE, compared to 1,035 that rose. As many as 69 shares were unchanged.

Though the Sensex has been hitting a string of new highs, what has been lacking is participation from across the board. The market-breadth has remained weak on a few occasions recently.

The BSE clocked Rs 5,088 crore, compared to Tuesday's Rs 5,151 crore, brokers said.

UNI

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