Sensex rises for 3rd straight day; gains 240 pts
The BSE benchmark index maintains its upward march for the third straight day by gaining 240 points on brisk buying by funds in heavy-weight stocks such as Reliance Industries.business Updated: Dec 03, 2007 16:43 IST
The Bombay Stock Exchange benchmark Sensex maintained its upward march for the third straight day by gaining 240 points on Monday on brisk buying by funds in heavy-weight stocks such as Reliance Industries.
The 30-share bellwether index rose 240.22 points at 19,603.41 as foreign investors remained net buyers on expectations the US Federal Reserve might cut interest rates. It touched the day's high of 19,619.44 and a low of 19,446.68 points.
The wide-based National Stock Exchange's Nifty also gained 102.25 points at 5,865. It touched the day's high of 5,878.80 and low of 5754.60 points.
The rally was driven by shares of firms promoted by the two Ambani brothers. Index heaviest Reliance Industries rose by Rs 81.45 at Rs 2,932.20 and Reliance Energy by Rs 162.05 at Rs 1900.15.
Reliance Communication shot up by Rs 369.95 at Rs 711.80, Reliance Capital by Rs 120.30 at Rs 2,477.30, Reliance Petro by Rs 5.05 at Rs 222.80, Reliance Natural Resources by Rs 5 at Rs 173.120 and Reliance Industrial Infrastructure by Rs 57.15 at Rs 1,946.45.
Among sectoral indices, metal index rose the most by 550.71 points at 18,281.24, followed by oil and gas 426.46 points at 12,786.19. Consumer durable index rose by 366.32 points at 5,732.15 and capital goods index by 325.10 points at 19,962.48.