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last activity : 07 06 2010 20:18:04 +0000
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The Bombay Stock Exchange benchmark Sensex on Monday closed over the 16,000-point level for the first time this year as buying in realty, metal and banking segments powered over 320-point rally on strong global cues.
The 30-share index rose by 327.20 points to close at 15-month high of 16,016.32 points, a level never seen after June 2, 2008. The wide-based National Stock Exchange index Nifty soared by 102.50 points to 4,782.90 points. The rally was backed by steep rise in stocks of realty, metal and banking segments on reports that shortage of monsoon rainfall might ease, improving the outlook of farm production and boosting buying in rural parts of the country.
The fag-end surge was mostly attributed to higher opening in European stock markets this afternoon.
Among the Sensex shares, 28 scrips closed with gains while ITC Ltd and Mahindra and Mahindra ended with losses.
Infosys Technologies, Reliance Industries, ICICI Bank, RCom, DLF Ltd, Tata Motors and Tata Steel were the major gainers and helped Sensex rise above 16,000 points level.
TOI is quoting like the monsoon rainfall may ease and the drought season will be ending soon and based on that in turn boost buying in the rural parts of the country...so what could be the reasons apart from this? and now how to carry it to 17K?
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