Sensex closes 205 points up; RIL hits new high
The BSE-30 share index closes well above 14k level on a flurry of buying by funds in trend-setter Reliance Industries and other heavyweight stocks.business Updated: May 03, 2007 18:39 IST
The benchmark Sensex climbed more than 205 points on Thursday to close well above the 14k level on the Bombay Stock Exchange on a flurry of buying by funds in trend-setter Reliance Industries and other heavyweight stocks.
The BSE-30 share index, Sensex, which had lost 36.21 points in the previous session, staged a strong comeback to close 205.84 points, or 1.48 per cent higher at 14,078.21 after touching the day's high of 14,107.06.
Similarly, on the wide-based National Stock Exchange, Nifty gathered 63.15 points, or 1.54 per cent at 4,150.85. It moved between 4,161.20 and 4080.20 points during the session.
Market observers said apart from firming global markets, UBS brokerage raising RIL's earnings per share forecast to Rs 92.90 from Rs 82.80 and also buoyed the trading sentiments.
RIL shot up to hit another new high of Rs 1626 before moving up by Rs 63, or 4.04 per cent higher at Rs 1623.10.
All the sectoral indices ended in the positive zone, reflecting the all-round buying activity.