Fri close: Sensex skyrockets 192 pts
The benchmark BSE index hovers near the 13,000-mark by surging 191.76 points on impressive corporate results.india Updated: Oct 20, 2006 18:34 IST
Impressive corporate performance has given more reasons for cheer this festive season, as the stock market surged by a whopping 191.76 points on Friday to close within earshot of the 13,000-point milestone.
The BSE benchmark index, Sensex, seems poised to scale the new peak well ahead of Diwali 'muhurat' trading on Saturday.
The 30-share index closed at 12,928.18 points after flirting with a new high of 12,953.76 points. The Sensitive Index gained 191.76 points or 1.5 per cent over the previous close.
The gains over the last three sessions stand at 574.69 points or 4.65 per cent, thanks to frantic buying activity triggered by strong economic fundamentals and optimism of robust corporate earnings -- similar to that of the market's darling Infosys Technologies.
Similarly, the National Stock Exchange's (NSE) S&P CNX rallied sharply by 47.90 points or 1.30 per cent to 3,723.95 from previous close of 3,676.05.
The Nifty, however, continued to shy away from its closing peak of 3,754.25 hit on May 10 and historic trading high of 3,774.15 touched on May 11.
Underlining increased FII activity as a key factor for the current bull run, brokers said enthused investors enlarged their existing positions while analysts visualised fairly good scope for the bull market.
The market sentiment was also boosted by strong Asian trend during the day. Japan's Nikkei ended 156.22 points up, Hong Kong's Hang Seng by 21.34 points and the Korean Kospi by 8.12 points and the Singapore Straits Times by 2.87 points.