Sensex crosses 17,000 mark after financial crisis

Mumbai, Sep 30 (ANI): The benchmark index of the Bombay Stock Exchange (BSE) climbed above 17,000 points on Wednesday for the first time since May 2008.

The BSE index rose to more than one percent in its early trade as investors betted on strong quarterly earnings.

The market continued with its upward march taking cues from peers in Asia and on hopes of revival in global and domestic economy.

The BSE Sensex was at intra-day high of 17026.31, up 173.40 points or 1.02 per cent. The index touched an intraday low of 16868.46.

National Stock Exchange's Nifty was at 5048.15, up 41.30 points or 0.82 per cent. The broader index hit a high of 5049.15 and low of 5004.35.

The experts in the market opine that as the opening moments were dominated by Oil India's listing, the market will be keen to see how the stock behaves after a tepid debut for Adani Power and NHPC.

The market expects another positive start though Asian stock markets are mixed after overnight losses on Wall Street. If global cues remain indecisive the market might just turn choppy again being a curtailed week, said the marketmen.

The market has already had a terrific run in anticipation of the imminent rebound. So, it remains to be seen how long the current momentum continues.

The scope for further advance does appear to be limited and every rise will be interrupted with periodic falls. (ANI)