Sensex ends at new high of 12,359.70
NSE index, S&P CNX Nifty touched a new intra-day high of 3676.55 and ended at 3663.95, a new closing high.Updated: May 05, 2006 17:38 IST
The Bombay Stock Exchange benchmark sensex on Friday advanced higher on the back of rising Reliance Industries' scrip and closed at a new peak of 12,359.70 points.
RIL shares, after touching an intra-day high of Rs 1109.00, closed at Rs 1099.50, revealing a sharp gain of Rs 20.35 or 1.89 per cent over Thursday's close.
In highly volatile trading, the 30-share Sensex started firm at 12,373.47 as against Thursday's close of 12,347.63 and soon shot up to a new intra-day high of 12,443.54 on heavy funds buying.
Later, as shares, specially in the Banking segment, fell sharply, the index nosedived to a low of 12,304.59 and closed at 12,359.70, showing a moderate gain of 12.07 points or 0.10 per cent over the previous close.
Foreign Intitutional Investors (FIIs) who turned active buyers made a net buying of Rs 907.20 crore on May three and took the total buying in the first two days of the month to an impressive Rs 1,125.70 crores which boosted the market sentiment, a broker said.
During the early trade, some of the market friendly reports like government announcement that there was no plan for an immediate hike in fuel prices and Moody's Investors Service raised India's Ba2 domestic currency rate to stable from satisfactory made some impact on the sentiment, he said.
The National Stock Exchange (NSE) index, S&P CNX Nifty touched a new intra-day high of 3676.55 and ended at 3663.95, a new closing high.