Bulls go on rampage on Dalal St, Sensex hits 20K
The bull run in the Indian markets has achieved another milestone with Sensex hitting the 20,000 mark. Nifty has hit 5,900 levels scoring over a double century. Strength is seen coming from all quarters.
The 30-share BSE Index took just 10 sessions to cover the last 1,000 points on funds buying in heavy-weight stocks, led by Reliance Industries.
The Sensex spurted in the last five minutes of trade to fly past the crucial level and scaled a new intra-day peak at 20,024.87 points before ending at its fresh closing high of 19,977.67, a gain of 734.50 points.
The wide-based National Stock Exchange's Nifty rose to a record high 5,922.50 points before ending at 5,905.90, showing a hefty gain of 203.60 points.
The rally was led by capital good stocks and market major and trend-setter Reliance Industries, which surged to a record Rs 2,844 on funds buying, influenced by a similar trend in other Asian stock markets.
Capital goods index shot up by 1,360.51 points at 19,847.66, followed by oil and gas index by 556.19 points at 11,659.65. Metal index was the third best performer, gaining 445.18 points to 17,189.74, while the bank index rose 376.18 points to 10,649.71.
The Sensex crossed 19,000 mark on October 15. It had crossed 10,000 mark on February 6, 2006 and 15,000 mark on July 6, 2007.
With Monday's landmark, Sensex has joined the 20,000 club whose other members are Hong Kong's Hang Seng, Brazil's Bovespa, Mexico's Bolsa among others.
Hang Seng recently crossed 30,000 mark and today closed at 31,560 points, while Bovespa closed at 64,275 on October 26. Mexico's Bolsa index closed at 32,136 last Friday.
Sensex: Road to 20,000!
Cues from Asia and rest of the equity markets were robust which has helped in such a rally.Asia has ended in green with gains of 1%-3%. Hefty 14 points premium is seen in Nifty futures.
Source :- ibnlive.com
