Sensex hovers near all-time high, opens 116 pts up
Mumbai, Dec 31: The sensitive index at Bombay Stock Exchange hovered near the all-time high, gaining over 277 points near 20,500 level on sustained buying in blue-chip pivotal in the early morning trading session.
The benchmark Sensex today, on the last day of outgoing year 2007, resumed with a positive gap of 116.33 points at 20,323.28 from its previous close of 20,206.95 and reached a high of 20,484.28 on the back of positive note in global markets. It moved in a range of 20,323 and 20,484 so far during the day. Sensex had struck an all time high of 20,498.11 on 13 December 2007. Similarly, National Stock Exchange's Index, Nifty climbed 88 points to touch 6,167.75 in the early trade.
The market breadth was strong on BSE with 2334 shares advancing as compared to 176 that declined and 14 remained unchanged. Among the Sensex pack, 27 advanced while the rest declined.
Key stocks, Bharti Airtel was the top gainer from the Sensex pack during the morning trade, which gained 5.56pc to Rs 993.75 on 75,693 shares. Hindalco Industries was up 3.10pc to Rs 219.75, Reliance Communications up by 2.39pc to Rs 750, DLF gained 1.63pc to Rs 1081 and Reliance Industries was at marginal gain of 0.52pc to Rs 2913.55 on 44,182 shares to join the gainers' lobby from the sensex pack.
Ambuja Cements was the top loser from the Sensex pack. The stock slipped 1.47pc to Rs 147 on 1.33 lakh shares. Infosys Technologies and Cipla were the other losers from Sensex pack, which were down marginally.