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Sensex ends at record high of over 20K

By Staff
Google Oneindia News

Mumbai, Dec 11: The Sensex today zoomed to a record-breaking all-time high, surging by 360.21 points, to close at 20,290.89 on the Bombay Stock Exchange on renewed buying in blue chips in anticipation of strong inflows through foreign institutional investors (FIIs).

The Sensex kicked off with a gain of 108.67 points during early trade. It hovered over the psychological level of 20K and hit an all-time high of 20,333.06 in late trade. At the day's high, Sensex had gained 402.38 points.

The broader S&P CNX Nifty index at National Stock Exchange (NSE) climbed 136.65 points, or 2.29 percent, to close at 6,097.25, a record closing high. Nifty also hit all-time high of 6,111.20.

The market surged to record highs on renewed buying in blue chips in anticipation of more foreign fund inflows on expected cuts in key rates by the US Federal Reserve. Sensex settled above 20,000 mark and Nifty closed above 6,000 level for the first time, traders said.

The US Federal Reserve is expected to cut Fed funds rate by at least 25 basis points at its policy meeting to be held later today.

Asian markets were trading higher today. Hwever, European markets were in red. Bharti Airtel and HDFC Bank were major gainers from Sensex and Infosys and DLF were major losers from the Sensex pack.

Banking, realty, auto and metal stocks edged higher. Except BSE IT index, all the other sectoral indices on BSE were in green. Reliance Industries gained. BSE Mid-Cap and Small-Cap indices hit all-time highs. Market breadth was strong.

BSE clocked a turnover of Rs 8179 crore compared to previous turnover of Rs 7,420.72 crore.

Nifty December 2007 futures were at 6096.35, at a slight discount of 0.90 points as compared to the spot closing of 6097.25. The NSE's futures&options (F&O) segment turnover was Rs 59,421.97 crore.

BSE Mid-Cap index rose 0.76 pc to close at 9,186.98. It hit an all-time high of 9,268.23 today. Similarly, BSE Small-Cap index rose 1.19pc to 11,667.84. It also hit an all-time high of 11,740.96.

Both these indices underperformed the Sensex.

Major Sectoral indices like BSE Bankex ended up 2.54 pc to 11,778.71, BSE Metal index gained 1.89pc to 19,054.59, BSE Realty index up 3.04pc to 12,182.32) outperformed the Sensex.

BSE Auto index gained 1.48pc and BSE Capital Goods index was up 0.84pc. BSE IT index ended in red with a marginal loss, BSE Oil&Gas index gained 1.77pc to, BSE Power index was up 0.49pc and BSE PSU index ended 1.8pc.

Market breadth was strong. On BSE, 1,948 stocks advanced, 892 stocks declined and 28 stocks remained unchanged. 25 out of 30 stocks advanced in the Sensex pack.

Bharti Airtel surged by 6.21 pc to Rs 1,030.70, ONGC up by 3.68pc to Rs 1,238.45 were among the top gainers. Followed by Reliance Industries rose 1.99pc to Rs 2,878.75. As per reports, Reliance Industries (RIL), has struck a deal to explore uranium in Australia, as soaring demand and prices turned the heavy radioactive metal into a lucrative commodity.

Banking stocks gained. HDFC Bank gained 4.81pc to Rs 1,774.70, Indian Overseas Bank ended up 4.93pc to Rs 185.30, ICICI Bank was up 3.32pc to Rs 1,316.05 and State Bank of India was up 0.88pc to Rs 2,445.85. UNI

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