Sensex holds above 20,500 points

A benchmark index for Indian equities crossed the 20,500-point mark, the highest in 33 months, in afternoon trade today on the back of continued buying support from foreign institutional investors.

A benchmark index for Indian equities crossed the 20,500-point mark, the highest in 33 months, in afternoon trade on Monday on the back of continued buying support from foreign institutional investors.

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The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) advanced over 100 points to 20,545 points. The index had earlier surged to 20,706.74 points in the intra-day trade but pared some the gains on profit booking.

The benchmark Sensex is approaching its record closing high of 20,873 reached Jan 8, 2008.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was trading 0.49 per cent higher at 6,173.

The major gainers on the Sensex were Reliance Communications, up 3 per cent at 173.30; Mahindra and Mahindra, up 2.98 per cent at 7,34.73, ICICI Bank, up 2.41 per cent at 1,162, BHEL, up 2.20 per cent at 2,647 and Jaiprakash Asso, up 2.02 per cent at 126.50.