Sensex closes above 17k level, Nifty crosses 5,000 points
Sensex closes above the 17,000-point mark for the first time, while the Nifty crosses 5,000 level, driven by unabated FII inflows as well as strong global cues.business Updated: Sep 27, 2007 18:04 IST
The benchmark Sensex on Thursday closed above the 17,000-point mark for the first time, while the Nifty crossed the 5,000 level driven by unabated FII inflows as well as strong global cues.
The rally was largely confined to frontline counters as the derivatives series registered a marketwide rollover of over 70 per cent at the concluding day of September contract.
Riding high on unprecedented FII inflows, operators not only rolled over positions to next series but also made fresh commitments in the cash segment, market players said.
They, however, expected downward correction soon, taking a cue from heavy profit selling in the mid-cap and small-cap segments, indices of which closed flat.
The Bombay Stock Exchange (BSE) 30-share Sensex on Thursday opened firm at 17,059.61 from Wednesday's close of 16,921.39 and later touched an all-time intra-day high of 17,188.40. It had crossed the 17,000 mark during the day's trade on Wednesday but closed below the level due to profit-booking in the second half of the session.
The Nifty also closed at a life-time high of 5,000.55, a net rise of 60.05 points or 1.22 per cent over previous close of 4,940.50.
Asian indices gained 1.0 to 2.5 per cent at close.
Metal and IT shares hogged the limelight during the day with their indices rising by more than 3 per cent.
Tata Steel, Infosys Technologies, Satyam Computer, TCS, Wipro, SBI, BHEL, HDFC, HDFC Bank, ONGC and REL were the prominent gainers.