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Sensex back at 20K after 5 weeks

business Updated: Dec 22, 2010 01:06 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Recovering from scars related to corruption scandals that affected investor sentiment, the Sensex at the Bombay Stock Exchange (BSE) rebounded past the 20,000-mark for the first time in little over a month on Tuesday to close at 20,060, with a gain of 171 points or 0.9%.

The National Stock Exchange's Nifty also crossed 6,000 mark on a day when global markets also offered support.

In the wake of JSW Steel’s announcement that it was buying a controlling stake in Ispat Industries, the metals sector led the rally with a 2.8% surge.

The banking and real estate stocks also logged handsome gains, rising 2.3% and 1.3% respectively on the BSE.

There was support from both the Asian and the European markets as well, as there is a comfort level developing among the market participants on the easing of the debt crisis in Europe, as well as optimistic economic data emanating from the US indicating the recovery was safe.

The premier index in China — Shanghai Composite — rose by 1.8% during the day.

Hang Seng of Hong Kong and Nikkei 225 of Japan also rose by 1.6% and 1.5% respectively.

Among the European markets France, Germany and UK were up by 1% at the time of going to press.