Refiners fuel Sensex to reach close to 17K level | business | Hindustan Times
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Refiners fuel Sensex to reach close to 17K level

business Updated: Sep 25, 2007 18:06 IST
PTI
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The benchmark Sensex on Tuesday continued its journey towards 17K mark by gaining 54 points on the Bombay Stock Exchange following a rise in refinery stocks.

The Sensex closed higher by 53.71 points at 16,899.54, after touching day's high of 16,928.02 and a low of 16,676.98 points.

Similarly, the wide-based National Stock Exchange index Nifty rose by 6.85 points at 4,938.85, after reaching the high of 4,953.90 and low of 4,878.15 points during the day.

Oil and gas extended maximum support to the rally by rising 126.34 points at 9,777.51 as segment major and world's third largest refinery Reliance Industries shot up by Rs 42.90 at a new peak of Rs 2,399.60.

IndianOil also led the refinery index higher after reports of a possible issue of oil bonds by the government to help reduce losses on selling petroleum products at a price lower than the market determined one.

Metal index rose by 50.36 points at 13,080.83, healthcare index by 24.37 points at 3,687.60, PSU index by 15.20 points at 7,975.12, teck index by 9.97 points at 3,651.41 and consumer durable index by 6.98 points at 4,762.

A steep fall of 284.21 points in realty index at 9,085.47 pulled back the Sensex. Capital goods index lost 74.10 points at 14,763.61, auto index 46.99 points at 5,250.27 and bank index by 16.51 points at 8,944.98.

Both the exchanges will remained shut between 1125 hrs and 1210 hrs because of possible disruptions in satellite communication. The closing time of the exchanges has been extended to 1615 hrs, 45 minutes later than the normal close. The change will be in effect until October 9.