The Hindu Business Line : Sensex zooms past 7,000 — Reliance stocks stay in the limelight

THE bourses continued to be buoyant with the BSE Sensex touching a new high and ending above the 7,000-point mark, as the settlement between the Ambani brothers and the advancing monsoon rains in Mumbai cheered market players.

The mood in the market was upbeat mainly in index stocks as the benchmark index closed over the 7000-mark for the first time. On Monday, Sensex had touched the 7000-mark but closed below it.

The Sensex ended the day at 7076.52, up 91.97 points (1.32 per cent) from its previous close. During the day, it touched a high of 7083.58. NSE's S&P CNX Nifty closed at 2170, up 25.65 points (1.20 per cent) from its previous close.

There was some buying in mid-cap and small-cap stocks also. But the overall sentiment of the market was still negative with more declines than advances.

In the last two trading sessions, the Sensex has gained 170 points. Brokers said the mood in the market is upbeat in large-cap stocks, as foreign investors have started buying in them. This is seen from over Rs 1,100 crore being invested by foreign institutional investors in the last three trading sessions.

The brokers said the action is mainly in Reliance, FMCG and IT stocks. But some market players are concerned over the rise in stock prices, since the international crude price has touched the $60-per-barrel mark and petroleum prices have also increased in the domestic market. They feel that this could affect the profitability of companies in the next few quarters.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Anil makes open offer for 20 pc in RCL

India Inc eyes high earnings from carbon trading

IMD sees 10% deficit in June rainfall

Sensex zooms past 7,000 — Reliance stocks stay in the limelight

MoU plan for PSU banks dropped

Pocket