The Hindu : Business : Sensex at new closing peak

Online edition of India's National Newspaper
Friday, Sep 02, 2005

Business

Business

Sensex at new closing peak

MUMBAI: Buoyed by a strong global trend, shares on the Bombay Stock Exchange on Thursday rallied sharply aiding the Sensex to end at a new peak of 7876.15 on the back of heavy purchases by operators as well as institutional investors.

The BSE benchmark 30-share sensitive index, Sensex, opened firm at 7818.90 and gradually moved upwards to the intra-day high of 7902.19 before ending the day at an all-time high of 7876.15 against yesterday's close of 7805.43, a net gain of 70.72 points.

A smart rally in world markets helped stocks continue the upsurge for the third day in a row. The Dow Jones Industrial Average yesterday ended up 68.78 points and the Nasdaq Composite Index by 22.33 points.

Sentiment was bolstered by the outsourcing deal signed by ABN Amro bank with five IT vendors as also a robust growth in sales of two-wheelers and cars in August.

IT counters witnessed a smart rally in response to a 1.8 billion euro contract signed by the bank with five IT-vendors, including TCS and Infosys Technologies, while auto shares attracted heavy buying prompted by increase in sales of vehicles. — PTI

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