Date:07/12/2007 URL: http://www.thehindu.com/2007/12/07/stories/2007120754442000.htm

Business

Sensex up 58 points

MUMBAI: The Bombay Stock Exchange benchmark Sensex on Thursday gained nearly 58 points but failed to sustain the higher levels it saw during the day.

After touching the high of 20064.31 at the outset, the BSE barometer later moved irregularly on alternate bouts of buying and selling and ended the day at 19795.87. It depicts a rise of 57.80 points over its Wednesday’s close of 19738.07.

Analysts said the market has breached the 19750-level, also known as breakout level, paving the way for an anticipated, long bull run.

This is the sixth time since October 29 that the Sensex has breached the 20000 mark during trading but could not close above the crucial level.

Similarly, the 50-share S&P CNX Nifty of the National Stock Exchange (NSE) hit an all-time high of 6027.05 points. But it closed at 5954.70, a net gain of 14.70 points against its previous close of 5940.

Rupee ends steady

The rupee was steady at 39.4850/4950 against the dollar on Thursday due to suspected central bank intervention, dollar demand from banks and a firm trend in equity markets. In an active trade at the interbank foreign exchange market, the local currency fluctuated in a range of 39.45 and 39.55 during the day after resuming higher at 39.45/46 a dollar on the back of initial sharp stock rally. The rupee closed at Rs. 39.50 on Wednesday.— PTI