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Sensex shoots up 99 pts, ends at new high

The benchmark 30-share Sensex index closed at 12,612.38, up 98.12 points.

india Updated: May 10, 2006 17:55 IST

Led by banking and metals counters, shares on Wednesday made a handsome rally, pushing the Bombay Stock Exchange (BSE) sensitive index (Sensex) sharply up by 98.52 points to end at a new peak of 12,612.38 on persistent buying by foreign funds and well supported by domestic players.

The 30-share index started the day on a firm note at 12,546.93 and spurted to a new intra-day high of 12,624.37.

Thereafter, it moved down marginally and ended at 12,612.38, showing a smart gain of 0.79 per cent over the previous close.

At the National Stock Exchange (NSE), the S&P CNX Nifty rose sharply by 33.70 to end at a new high of 3754.25.

Among bank shares, State Bank of India was the star performer and shot up by 26.20 to end at a historic high of Rs 1001.25 on heavy buying.

FIIs continued to buy heavily especially in banking and metal shares and made a net buying of Rs 366.40 crore on May 8 taking the total to Rs 2,992.90 crore during the month.

Meanwhile, 86 new FIIs have registered with the SEBI duirng the first four months of the callender year 2006 bringing the total number of FIIs in the country to more than 900, they said.

Mirroring the steep rally in banking and metal shares, the Bankex shot up by 140.99 points or 2.49 per cent to 5,809.33 from 5,668.34 on Tuesday and BSE-Metal zoomed by 242.62 points or 2.21 per cent to 11,239.27 from 10,996.65.

First Published: May 10, 2006 10:42 IST