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Sensex crosses 17,000 mark after financial crisis | The benchmark index of the Bombay Stock Exchange (BSE) climbed above 17,000 points on Wednesday for the
first time since May 2008. The BSE index rose to more than one percent in its
early trade as investors betted on strong quarterly earnings. The market continued
with its upward march taking cues from peers in Asia and on hopes of revival in
global and domestic economy. The BSE Sensex was at intra-day high of 17026.31,
up 173.40 points or 1.02 per cent. The index touched an intraday low of 16868.46.
National Stock Exchange's Nifty was at 5048.15, up 41.30 points or 0.82 per cent.
The broader index hit a high of 5049.15 and low of 5004.35. The experts in the
market opine that as the opening moments were dominated by Oil India's listing,
the market will be keen to see how the stock behaves after a tepid debut for Adani
Power and NHPC. The market expects another positive start though Asian stock markets
are mixed after overnight losses on Wall Street. If global cues remain indecisive
the market might just turn choppy again being a curtailed week, said the marketmen.
The market has already had a terrific run in anticipation of the imminent rebound.
So, it remains to be seen how long the current momentum continues. The scope for
further advance does appear to be limited and every rise will be interrupted with
periodic falls. |
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