Wed close: Sensex gains 46 pts
The benchmark BSE index touches 12,400 during intraday trade but sheds some gains on late selling pressure.india Updated: Sep 27, 2006 18:13 IST
Influenced by strong global trend, the Bombay Stock Exchange benchmark, Sensex, on Wednesday raced past the 12,400 level for the first time after May 12 but ended the day at 12,366.91 points as late selling pressure trimmed the gains.
The 30-share sensitive index (Sensex) ended up by 45.72 points, or 0.37 per cent, at 12,366.91 points from Tuesday's close of 12,321.19.
Initially, the Sensex touched an intra-day high of 12,442.82 points on sustained buying support prompted by a global rally.
Similarly, the National Stock Exchange's (NSE) S&P CNX Nifty advanced by 7.55 points or 0.21 per cent to 3,579.30 from previous close of 3,571.75 points.
Foreign Institutional Investors (FIIs) and retailers were heavy sellers after the mid-session in the Futures & Options (F&O) segment ahead of the expiry of September contract.
FIIs and operators squared up of their positions due to approaching end of September series, brokers said.
Crediting the initial surge in share prices to a sharp rally in Asian markets, market players said banking stocks attracted keen demand for the second straight day on reports that the progress toward Basel II implementation in India is entirely appropriate to economic circumstances.
In Asian markets, the Nikkie ended up by 390.42 points, the Hang Seng by 213.43 points, the Kospi by 16.06 points and the Singapore ST Index by 31.90 points.
HDFC Bank and ICICI Bank touched all-time highs of Rs 905 and Rs 695.90 during trading respectively.