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| Sensex up 198 pts, closes at new peak of 12,736.42 | | |
Mumbai, Oct 13: The Bombay Stock Exchange benchmark Sensex on Friday shattered records as it closed at a new high of 12.736.42 points, thanks largely to the confidence reposed by investors in the earnings potential of corporates.
The rally, which saw the index breeze past the previous record close of 12,612.38 on May 10, was also influenced by a strong trend globally.
The Sensex also touched an intra-day high of 12,756.23 before closing at 12,736.42, netting a gain of 198.44 points or 1.58 per cent over Thursday`s close of 12,537.98.
Its previous record intra-day high was 12,671.11 on may 11 this year.
Similarly, the National Stock Exchange`s (NSE) S&P CNX Nifty soared to 3,676.05, rising by 55 points or 1.52 per cent over the previous close of 3,621.05. It is still 78.20 points away from the May 10 life-time high of 3,754.25.
Investors enthused by strong Q2 performance by IT leader Infosys Technologies, which beat market projections, became euphoric on expectations that major companies will come out with excellent working ahead of the market leader Reliance Industries scheduled to release financial results next week.
Foreign institutional investors (FIIs) and domestic mutual funds were believed to have stepped up their activity in the last couple of days.
In world markets, Hong Kong`s Hang Seng index climbed above 18,000 for the first time in six years and Singapore`s Straits Times index soared by 1.3 per cent to new closing high while Dow Jones industrial average yesterday rose by 0.8 per cent, crossing previous high of 11,900.
Japan`s Nikkei 225 stock average jumped by 1.1 per cent and the Kopsi advanced by 16.87 points.
Commenting on the rally, brokers said the market is being driven higher by strong hopes of robust earnings season in line with Infosys presentation on October 11.
Finance Minister P Chidambaram also attributed the sharp stocks rally to higher corporate earnings and falling global crude oil prices, which held near its 10-month low below USD 58 a barrel.
The market breadth, however, was negative with losers outnumbering gainers. As many as 1,444 counters registered losses and 1,083 others showed gains of the total 2,577 traded shares.
The trading volume has risen to Rs 4,100.66 crore from Rs 3,483.80 crore on Thursday. RIL remained the most active scrip with highest turnover of Rs 208.27 crore followed by Atlanta (Rs 204.62 crore), Infosys Tech (Rs 176.53 crore), Reliance Comm (Rs 131.68 crore) and Tech Mahindra (Rs 103.10 crore).
The broad-based BSE-100 index spurted by another 80.78 points to 6,476.29 from previous close of 6,395.51.
The BSE-200 index and the Dollex-200 were quoted sharply up at 1,530.61 and 560.13 at close compared to previous close of 1,513.45 and 552.57 respectively. The BSE-500 index shot up by 50.93 points to 4,856.51 from last close of 4,805.58 and the Dollex-30 ended higher at 2,298.40 from 2,257.38.
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