Sensex crosses 14k level at 14,048 points
The 30-share index, which remained under selling pressure on weak global cues, spurted by 733 points, or 5.51 per cent to 14,048 on heavy buying by funds and general investors.Updated: Sep 19, 2008, 15:25 IST
The Bombay Stock Exchange benchmark Sensex crossed the 14k level by surging by over 733 points in pre-close trading on Friday after PM Manmohan Singh and FM P Chidambaram expressed confidence that the global financial crisis will not affect Indian economy.
The 30-share index, which remained under selling pressure on weak global cues, spurted by 733.28 points, or 5.51 per cent to 14,048.88 at 1445 hrs on heavy buying by funds and general investors.
Marketmen said Prime Minister Manmohan Singh's statement that there is no impact of US crisis on the Indian economy boosted investor's confidence.
The wide-based National Stock Exchange index Nifty also shot up by 195.80 points to trade at 4,233.95.