Sensex hits all-time high above 16,000

Mumbai, Sep 19 (UNI) The Bombay Stock Exchange (BSE) Sensex today galloped by a whopping 507.76 points in opening trade to cross the magical boundry of 16,000 at 16,176.88 after opening with a bang at 15,940.79 from it's last close of 15,669.12, a rally triggered by the US Federal Reserve announcement of a 50 basis points cut in fed funds rate to 4.75 per cent from 5.25 per cent.

The National Stock Exchange (NSE) S&P CNX Nifty also soared by around 152 points to breach the 4,600 level at 4,698.20 after opening higher at 4,550.25 from it's last close of 4,546.20.

All the 30-members from Sensex pack have advanced. The prominent among them include HDFC, ICICI Bank, HDFC Bank, SBI and Reliance Industries (RIL).

Meanwhile, the Left-UPA Committee on the nuclear deal will meet for the third time today, amid a fresh warning from the CPI(M) against implementing the pact and to keep it on hold for at least six months.

UNI