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Diwali Muhurat trade: Sensex closes above 21,000

Diwali Muhurat trade: Sensex closes above 21,000

The 30-share index, which gained 427 points in the previous session, rose 111.39 points, or 0.53 per cent to 21,004.96, a level never seen before.

The Bombay Stock Exchange benchmark Sensex made a brisk 111-point dash to end Samvat Year 2066 at an all-time high of beyond 21,000, during over an hour-and-a half long Muhurat trading session on Friday, with healthcare, auto and banking stocks in top form.

The 30-share index, which gained 427 points in the previous session, rose 111.39 points, or 0.53 per cent to 21,004.96, a level never seen before. During the session, the index touched an intra-day high of 21,108.64 points, surpassing the previous record set on January 10, 2008.

In a similar fashion, the broad-based National Stock Exchange index Nifty spurted 30.65 points to a new peak of 6,312.45. The Nifty touched an intra-day high of 6,338.50 points during Friday's session.

The market has rallied over 5,000 points since last Diwali on October 17, adding close to Rs 20 lakh crore in market capitalisation.

Marketmen said the investor sentiment is upbeat after state-run Coal India's stellar debut on the domestic bourses and the US Federal Reserve's announcement of a new stimulus package for the American economy.

According to equity analysts, there is enough liquidity in the capital market after Coal India's mega Rs 15,000 crore initial public offer and foreign institutional investors, which have been the main drivers of the domestic market in recent times, are upbeat following the second round of quantitative easing by the US.

In the 30-BSE index components, 27 stocks ended with gains, while three ended in the negative zone. All the sectoral indices gained up to 1.51 per cent during Friday's session.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Nov 05, 2010, 5:18 AM IST
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