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Sensex climbs 172 points

Sensex surged by 172 points on aggressive buying by funds and short-covering in several blue-chip stocks.

india Updated: Jan 25, 2007 18:18 IST

The Bombay Stock Exchange benchmark Sensex surged by 172 points on aggressive buying by funds and short-covering in several blue-chip stocks, led by metals and capital goods sectors.

The 30-share index, which had gained over 69 points on Wednesday, shot up by another 172.26, or 1.21 per cent to close at 14,282.72 after hitting an intra-session high of 14,307.19 on widespread buying by funds.

Similarly, the Nifty index on the broad-based National Stock Exchange rose 57.80 points at 4,147.70 after moving between 4,157.95 and 4,090.10.

Market observers said apart from strong earnings by blue-chip companies, short-covering by speculators on the last day of January contract in the derivative segment boosted the trading sentiments.

They said metal and capital goods sector stocks were major contributers to the rise in Sensex.