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Monday, May 4, 2009

Sensex crosses 12K level after seven months and still growing

Sensex crossed the 12,000-points level for the first time in seven months with shares of Sterlite, Tata Steel, Reliance Industries and Infosys spurting on aggressive buying.

The Bombay Stock Exchange benchmark Sensex on Monday crossed the 12,000-points level for the first time in seven months, on emergence of buying in blue-chip stocks led by metal and banking segments.

At 1230 hrs, the 30-share bellwether Sensex was up 5.26 per cent to 12,003.44 points, its highest level since October three, with shares of Sterlite, Tata Steel, Reliance Industries and Infosys spurting on aggressive buying.


Similarly, the wide-based National Stock Exchange index Nifty rose by 155.50 points to 3,629.45 points.

Marketmen said trading sentiment received a boost from reports of a positive Chinese purchasing index, which raised expectations that the global economy is back on track.

The upsurge was also supported by reports that overseas investors bought 1.3 billion dollars in Indian equities in April, the most in 18 months, they said.

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