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Sensex zooms 89 points
MUMBAI DEC. 5.The benchmark index rose by a whopping 89.36 points and closed at a 4-1/2 month high of 3409.64 on the Bombay Stock Exchange today, after bulls took a vice-like grip of the market, powered by global bullishness, extending overnight smart gains.
Technology, media and telecommunications (TMT) counters were the glamour shares following a sharp rebound of over 58 points in the tech-laden Nasdaq composite index yesterday. The Dow Jones Industrial Average also recovered smartly by nearly 130 points.
Software bellwether and heavyweight, Infosys Technologies were the star performer notching handsome gains that helped other it shares to follow suit, a dealer said.
Foreign institutional investors continued their buying spree and reportedly picked up shares of new economy segment like Infosys, Wipro, Satyam Computers, Zee Telefilms, Hughes Software, Digital Global and few others besides giving support to old-economy stocks such as Reliance Industries, ITC, Hindustan Lever and Grasim, dealers said.
A spurt in Southeast Asian markets also boosted sentiment. The Nikkei was up 261.16 points, the Hang Seng by 251.16 points and Singapore ST index by 55.16 points.
Depicting the upbeat mood, the BSE-30 share sensitive index opened on a strong footing at 3334.64 and shot up to a high of 3413.06 before closing at 3409.64, a steep rise of 2.69 per cent. The BSE-100 index also jumped by 52.64 points to 1640.49 from 1587.85.
Old economy shares, particularly cement and public sector enterprises attracted brisk buying support. Petrochem giant, Reliance Industries were in keen demand and aided the Sensex rise.
In the specified group, 134 including 23 index-based scrips registered gains while 39 others closed with losses.
The BSE-200 and the Dollex-200 were quoted up at 359.71 and 125.00 against 348.82 and 121.14 respectively. — PTI
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