The Hindu : Business : Sensex, Nifty close at new peaks

Online edition of India's National Newspaper
Friday, Jan 19, 2007
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Business

Sensex, Nifty close at new peaks

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MUMBAI: Stock markets turned highly volatile ahead of RIL's release of third quarter earnings with the key indices benchmark Sensex and the Nifty setting new trading peaks on Thursday amid flow of encouraging earnings and strong Asian advices.

The Bombay Stock Exchange (BSE) 30-share sensitive index (Sensex) touched a new intra-day high of 14325.92 but later tumbled to a low of 14140.35 due to selling pressure.

Finally, it closed at all-time peak of 14217.75, a net rise of 86.41 points over the previous close. The broader S&P CNX Nifty of the National Stock Exchange (NSE) also hit a new trading peak of 4140.25 before closing at all-time high of 4109.05, a net gain of 32.60 points.

The market leader RIL was the star attraction during the day, touching the life-time high of Rs. 1,383.50.

The share fluctuated wildly on alternate bouts of buying and selling as the company was scheduled to announce third quarter results latter in the day.

Refinery sector attracted fairly heavy buying interest as low crude oil prices continued to provide underlying support.

In the Asian markets, Hong Kong's Hang Seng ended up by 213 points, Japan's Nikkei by 110 points, Singapore's Straits Times by 24 points and Taiwan's Weighted Index by 61 points. The gains in blue chip stocks were not only trimmed but select ones such as ICICI Bank, Grasim, Tata Motors, Tata Steel, REL and Reliance Communications registered sharp losses. The market breadth was marginally positive with 1,361 gainers against 1,304 losers.

The BSE-500 firmed up by 19.35 points to 5463.90 and the Dollex-30 ended higher at 2636.72 against 2620.69. — PTI

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