Sensex hits new peak of 19,174.45 in early trade
The 30-share index, which crossed 19K on Monday, rises by 115.78 points at 19,174.45 in the first five minutes of trade.business Updated: Oct 16, 2007 13:19 IST
The benchmark Sensex continued its upward march and on Tuesday touched a fresh peak of 19,174.45 in volatile trade during opening session on relentless buying by Foreign Institutional Investors (FIIs).
The market overcame heavy selling by domestic financial institutions and retail investors during morning trade.
It climbed to new heights despite weak global cues as well as a word of caution from Finance Minister P Chidambaram to retailers attributing the rally to speculative activity by some operators.
The BSE barometer Sensex moved in range of 19,174.45 and 18,955.27 in the initial 30 minutes and was quoted at 19,069.17 at 1030 hrs, 10.50 points higher over yesterday's close of 19,058.67.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) also added 9.40 points at 5,679.80 at 1030 hrs from previous close of 5,670.40.
IT shares, however, continued to be under pressure due to the rupee's sharp appreciation against dollar in the current year.
First Published: Oct 16, 2007 10:40 IST