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Sensex hits 20K, ends up 735 points at 19,978
October 29, 2007 17:05 IST
The index touched an all-time, intra-day high of 20,025. The Sensex finally ended with a solid gain of 3.8% (735 points) -- third biggest single-day gain -- at a record 19,978. The index has gained 13.8% (2,418 points) in the last six trading sessions.
A strong rally in heavyweights like Reliance and L&T, along with gains in HDFC [Get Quote], BHEL, ONGC [Get Quote] and ICICI Bank [Get Quote], helped the index cross the magical 20,000-mark on Monday.
The index took only 10 trading sessions to gain 1,000 points after it crossed the 19,000-mark on October 15.
The P-notes scare, it seems, has been taken in stride by foreign investors, and with domestic and retail investors joining the buying party, there seems to be no stopping the rally.....
Anil Advani, Head of Research, SBI [Get Quote] Capital Markets, said: "Lot of foreign money has been coming to India, which has driven the market to new highs. This is a case of excess liquidity, but there could be a sluggish period when FIIs cash out in December. The impact of the P-notes curb well be seen slowly over 18 months."
The market breadth was positive - out of 2,841 stocks traded, 1,581 advanced, 1,199 declined and 61 were unchanged on Monday.
Larsen & Toubro and HDFC zoomed 10% each to Rs 4,277 and Rs 2,821, respectively.
BHEL soared 7.5% to Rs 2,612. ONGC surged 7% to Rs 1,239.
ICICI Bank and HDFC Bank rallied 5.5% each to Rs 1,249 and Rs 1,630, respectively.
Reliance gained 5% at Rs 2,828. Reliance Energy [Get Quote] moved up 3% to Rs 1,722.
NTPC and Wipro [Get Quote] advanced 2% each to Rs 233 and Rs 510, respectively.
Satyam [Get Quote], SBI and Reliance Communications [Get Quote] were up around 1.5% each at Rs 483, Rs 2,118 and Rs 776, respectively.
VALUE & VOLUME TOPPERS
Reliance Petro topped the value chart with a turnover of Rs 543 crore followed by Larsen & Toubro (Rs 469.50 crore), Reliance Natural Resources [Get Quote] (Rs 448.50 crore), Reliance (Rs 314.50 crore) and Reliance Energy (Rs 249 crore).
Reliance Natural Resources led the volume chart with trades of around 4.20 crore shares followed by Tata Teleservices [Get Quote] (3.55 crore), Reliance Petro (2.51 crore), Himachal Futuristic (1.32 crore) and Power Grid (1.15 crore).
Sensex hits 20K, ends at 19,978
The Sensex story: From 1K to 20K
Sensex @ 20k: What the expert says