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Friday, Oct 13, 2006

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Sensex crosses 12,500-mark

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Gains 184 points; major blue chips contribute to the rally

Highly positive
Oil and gas, metal, IT and auto indices gained significantly
Reliance Industries replaced ONGC as the largest in terms of market capitalisation
The market turnover stood at Rs 3,483.80 crore

Mumbai , Oct. 12

Sensex climbed to a peak (since May 10) to close at 12,537.98 on Thursday. Markets saw support from all sectors despite a volatile start in the morning.

Sensex moved up 184.49 points or 1.49 per cent but is away from the high of 12,612.38 on May 10.

"There was short covering even as the sentiment was highly positive and the trend is expected to continue," said Ms Shahina Mukadam, Head - Research, IDBI Capital Market Services Ltd. "The rise in stocks is also second-quarter corporate results-driven," she added.

S&P CNX Nifty index gained 1.76 per cent to end at 3,621.05.

Major blue chips contributed to the upward rally with all sectoral indices apart from BSE FMCG gaining. Oil and gas, metal, IT and auto indices gained significantly. BSE Metal index was the biggest gainer at 8,713.21 , up 2.64 per cent.

Reliance Industries Ltd ended higher by 2.30 per cent at Rs 1,169.50. The company replaced ONGC as the largest in terms of market capitalisation.

The market turnover stood at Rs 3,483.80 crore.

The overall market breadth was positive with stocks of 1,412 companies ending in green while 1,072 stocks ended in red.

FIIs were net buyers at Rs 103.96 crore, according to provisional figures on the NSE.

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