Sensex closes at new peak of 19,977 pts

Mumbai, Oct 29 (UNI) The Bombay Stock Exchange (BSE) sensitive index today registered a gain of 734.50 points to close at a record all-time high of 19,977.67, just short of the 20K level, on spirited buying from foreign Institutional Investors (FII's).

The benchmark Sensex opened about 400 points up at 19621.39 as compared to previous close of 19,243.17. Later, it hit the all-time high of 20,024.87, gaining another 400 points during the late trade and ended near to the 20K level, dealers said.

The Sensex covered the journey of 1,000 points from 19,000-20,000 in ten trading sessions, dealers observed.

Similarly, the broader base National Stock Exchange (NSE) Nifty index today inched nearer to 6K level at all-time high at 5,922.50.

Witnessing a gain of 203.60 points, 3.57 per cent up, Nifty ended at 5,905.90 as compared to its previous close of 5702.30.

Dealers maintianed that the expectations that US Federal Reserve would cut interest rates this week and that it will ease monetary policy further in the coming months, boosted the bourses.

According to the dealers, the market breadth was strong on BSE.

Out of 30 in Sensex pack, 24 traded with gains today. BSE clocked a turnover of Rs 8884 crore as compared to previous turnover of Rs 9,005.17 crore.

The BSE Mid Cap index was up 1.98 pc to 8,077.48 and BSE Small Cap index was up 1.55pc to Rs 9,698.70. Both these indices underperformed the Sensex. European markets started on a positive note and Asian markets ended firm today.

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