Sensex crosses 17,000 after two months

The BSE Sensex closed above the 17k mark today to a 10-week high of 17,077.18, up 81 points on sustained buying as RBI policy shifted focus to pushing growth from taming inflation, and investors settled this months derivative contracts amid strong overseas markets.

The benchmark BSE Sensex surged past the psychologically crucial 17,000 mark on Wednesday after a gap of two-and-a-half months, triggering optimism that stocks are back in fashion as an investment option.

HT Image

The 30-share Sensex closed at 17,077, up 0.48% or 81 points on Wednesday. The turnaround also follows the interest rate reversal mood and the increased foreign portfolio fund inflows.

The last time the Sensex closed above this level was on November 14 last year, at 17,119 points.

Since the beginning of 2012, the Sensex rose by 10.5%, or 1622 points, from 15,455, the closing of December 30.