Sensex hits record high, ends 164.59 pts up
Mumbai,
Jan
2:
The
Bombay
Stock
Exchange
sensitive
index
(BSE)
today
posted
the
highest
20,500
intraday
level
before
closing
with
a
whopping
gain
of
164.59
points
at
20,465.30-a
new
record
high-
on
strong
buying
interest
in
late
trade.
The market propelled from its early lower levels amid volatile trade to strike the record high in late trade on the second session of the new year. Banking and realty stocks led the rebound from lower levels in late trade, traders said. The benchmark Sensex resumed the day on a firm note at 20,393.10, with a positive gap of over 90 points from its previous close of 20,300.71 on selective buying for index pivotals. Soon, it failed to sustain at higher levels and slipped into deep red.
It touched an all-time high at 20,529.48, gaining over 450 points from its day low of 20,077.40. Sensex struck an all-time high intraday at 20,498.11 on December 13, 2007.
Similarly, the broader based Nifty index at National Stock Exchange recovered early losses and touched all-time high at 6,197.00, gained 136.15 points from its day low of 6060.85 before closing with a gain of 35.05 points at 6,179.40 in late trade.
The market breadth was strong on BSE. 1974 shares advanced as compared to 934 that declined, while 13 remained unchanged.
The BSE Mid-Cap index was up 1.25pc to 10,058.94 while the BSE Small-Cap index was up 1.50pc to 13,908, both these indices outperformed the Sensex. The BSE Mid-Cap index hit all-time high of 10,096.13 and the BSE Small-Cap index struck all-time high of 13,998.01 today.
Meanwhile, the sectoral indices including Bankex and Realty were the major gainers, posting a gain of 3.13 and 2.93 per cent respectively. Metal, Auto, FMCG, Oil&Gas and power stocks closed with a marginal gain. IT ended in red losing 0.46 per cent.
Turnover was high on BSE today of nearly Rs 11,000 crore. Most of the Asian markets were calm today and European markets exhibited mixed trade.
Reliance Energy gained 4.09 pc to Rs 2372.10. The stock hit all-time high of Rs 2378.70 today. The company owns 50 per cent in Reliance Power, which it plans to list. It was the top gainer from the Sensex pack. Housing Development Finance Company (HDFC) rose 3.81 pc to Rs 3030.
Banking shares surged on fresh buying. State Bank of India was up 1.17pc to Rs 2413.20, ICICI Bank by 3.42 pc to Rs 1273 pc. Public sector banking stocks, Canara Bank was up 14.03 pc followed by Allahabad Bank, gaining 7.89pc and Andhra Bank was up 7.20 pc.
Reliance Industries rose 0.49 pc to Rs 2860.95. The stock recovered from day's low of Rs 2818.10. 2.91 lakh shares were traded on the BSE counter. ACC lost 1.56pc to Rs 1012.10 and was the top loser from Sensex pack.
IT pivotals edged lower. Wipro was down by 1 pc, TCS edged lower by 0.81pc, Satyam Computers was down 1.38pc. However, Infosys Technologies was at a marginal gain.
UNI