The Bombay Stock Exchange benchmark Sensex, in its longest winning streak in over 18 months, on monday tested the 11,000 level on aggressive buying by funds on the optimism that government stimulus packages might help revive global economies.
The Bombay Stock Exchange benchmark Sensex, in its longest winning streak in over 18 months, on monday tested the 11,000 level on aggressive buying by funds on the optimism that government stimulus packages might help revive global economies.
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The Sensex, which regained the six-month high level of 11,000 points during the day, ended with a gain of 163.36 points, or 1.51 per cent, at 10,967.22.
It moved between 11,069.54 and 10,800.84 points. The index rose over 14 per cent in the last seven trading sessions, and is set for its longest run of gains since October 3, 2007, when a succession of gains for 11 days ended.
The 50-share National Stock Exchange index Nifty rose by 40.55 points, or 1.21 per cent, to 3,382.60. It moved between 3,417.80 and 3,334.15 points during the day.
Marketmen said firming trends overseas continued to support trading sentiment in domestic markets. They said Japan doubled stimulus spending and Chinese lending made a record jump.
The MSCI Asia Pacific Index rose 0.4 per cent to 88.34, the highest since January 12. Trading sentiment turned bullish after Satyam Computer shot up 3.61 per cent to Rs 48.85, after touching a high of Rs 54, ahead of the announcement of the highest bidder for a 51 per cent stake in the firm today.
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