Sensex at 23-month high as metals rally

Mumbai, Jan 5 (PTI) The Bombay Stock Exchange benchmark
index Sensex Tuesday surged by over 127 points to touch a
23-month high on sustained buying by funds in heavyweight
stocks led by metals, mostly copper and aluminium stocks.

The Sensex had a gap-up opening of over 171 points
Tuesday and closed the day with a gain of 127.51 points to
close at 17,686.24, a level seen in February 2008.
The key index touched the day's high of 17,729.78. This
is the second consecutive rally of the market after the first
trading session of the year Monday when the index gained94.
The broader National Stock Exchange's Nifty also rose by
45.70 points to 5,277.90, after touching a high of 5,288.35.
The rally was mostly attributed to rising interest in
metal stocks followed by realty and technology sector stock.
However, a further fall in the Reliance Industries, which is
the heaviest counter among the Sensex scrips, by Rs 5.80 to Rs
1,069.55, checked the upsurge as it did Monday.
Among the 30-share Sensex counters, 23 closed with gains
while the rest ended lower.
The metals index rose a hefty 3.82 per cent Tuesday.
Sterlite, the largest copper producer, gained 4.57 per cent to
Rs 914.90 after prices of the metals in London, New York and
Shanghai reached 16-month highs. The leading aluminium maker
Hindalco rose 7.39 per cent to Rs 175.20.
The realty sector was the second best performer by
gaining 1.14 per cent to 3,914.81 followed by the tech index
by 0.94 per cent to 3,321.99. Godrej Properties on its debut
day rose to Rs 586.70 and ended at Rs 534.55. The offer price
of the share was Rs 490. PTI RS
RDM


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