Sensex ends 81 points higher in volatile trade
The benchmark Sensex ends over 81 points higher on BSE on account of late buying by funds and general investors.business Updated: Apr 25, 2007 19:11 IST
Continuing with its upward momentum, the benchmark Sensex ended over 81 points higher on the Bombay Stock Exchange on Wednesday on account of late buying by funds and general investors.
The BSE-30 share index, Sensex, which had lost nearly 85 points in early trading, rebounded to close 81.05 points higher at 14,217.77, thanks to strong rally in heavy-weight stocks such as Reliance Industries, ACC, State Bank of India Tata Motors and Grasim Industries.
In similar manner, on the wide-based National Stock Exchange index Nifty gathered 25.50 points at 4,167.30 after moving between 4,173.30 and 4,114.35.
Stock brokers said the RBI's decision to leave all key rates unchanged and expectations that the trend-setters, Reliance Industries would come out with strong earnings tomorrow mainly buoyed the trading sentiments.
Reliance Industries, the country's most valued company stocks remained extremely bullish and crossed Rs 1,600 mark for the first time to hit Rs 1605.15 before winding up Rs 19.40, or 1.23 per cent higher at Rs 1,599.85.
Other stocks, which also participated in the rally were, Grasim Industries, ACC, State Bank of India, HDFC Bnk, HDFC, Ranbaxy Lab. ITC and Hero Honda, extending significant support to the Sensex.