Sensex climb for second day to fresh 32-mth high
The Bombay Stock Exchange benchmark Sensex today gained over 72 points to close at a new 32-month high on sustained buying by funds, particularly in metal stocks.business Updated: Sep 27, 2010 16:53 IST
The Bombay Stock Exchange benchmark Sensex on Monday gained over 72 points to close at a new 32-month high on sustained buying by funds, particularly in metal stocks.
Powered by foreign fund inflows, the index closed 72.20 points higher at 20,117.38, a level last seen in January 2008.
The stocks in metal sector led the rally following a firm trend in the London Metal Exchange where base-metal prices
Strong markets across Asia also bolstered the sentiment here. Asian bourses rose after reports of increase in
corporate spending and a big jump in orders for manufactured goods in the United States, world's largest economy.
The broad-based National Stock Exchange index Nifty rose by 17.35 points to settle at 6,035.65.
Tata Steel gained for the fourth and ended Rs 16.15 up at Rs 645.65 on expectations that the demand for the steel
Hindalco Industries, the biggest aluminum producer, climbed to its highest in 32 months by gaining Rs 6.35 at Rs
197.25. Sterlite Industries, the leading copper and zinc producer, closed higher by Rs 5.45 to Rs 177.80.
Trend-setter Reliance Industries rose by Rs 7.90 to Rs 1,009.55 on reports that the company plans to invest on
expanding its refining complex.
The metal sector index gained the most at 2.15 per cent, followed by consumer durables at 1.64. Realty sector
index rose 1.23 per cent and oil and gas index 0.85 per cent.
As the buying activity spilled over a wide-front, midcap index rose by 0.33 per cent to 8,142.26 and smallcap index by
0.13 per cent to 10,280.57.