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Sensex Rises to 7-month High

The index crossed the 12,000-point mark

Sensex managed to do what had been unthinkable ever since the global financial crisis broke, which had been cemented especially by the crash in the Indian markets particularly post-October 2008--it climbed to a 7-month high of over 12,000 points on Monday.

Sensex breached the 12,000 mark in today’s trading session after a period of 30 weeks. This has led to over 50 per cent gains for the index from the lows it hit in early March this year.

After having notched up a seven-week gain at the end of last Friday, Monday saw more northward movement on Sensex on the back of positive cues from the Asian indices. This rally notched up gains not just in the realty index, one of the most recalcitrant of movers into positive territory in recent times, but also in the pharma, metals and banking indices too.

While there are still concerns being voiced about the outcome of the poll results on the stock markets, yet on another front, swine flu, the situation does not look as grim as it was last week, with authorities keeping offices closed there was a sharp drop in new cases being reported and most importantly, China had some good numbers to show on the manufacturing front.

Globally, the last few weeks’ rally on the global front has persuaded investors that risk is falling from its volatile heights and, with liquidity not being a problem, that it was time to funnel money into the markets again. 

The net result was that Sensex crossed the 12,000-point mark -- it reached 12,161.90 points, a gain of 758.65, which works out to a mammoth intra-day gain of 6.65 per cent. It ended the day, with a 6.41 per cent gain, a total of 731.50 points change over Friday’s closing.

Smiling Indices
Index  Open  High  Low  Close  Change(%)
METAL 7,113 7,504 7,113 7,489 8.77
IT 2,713 2,900 2,713 2,887 8.4
BANKEX 5,895 6,139 5,895 6,134 7.89
SENSEX 11,635 12,162 11,635 12,135 6.41
CG 8,158 8,405 8,158 8,374 5.88
TECk 2,206 2,299 2,206 2,290 5.86
FMCG 2,103 2,223 2,103 2,209 5.43
REALTY 2,183 2,260 2,175 2,236 4.96
AUTO 3,532 3,679 3,532 3,660 4.62
CD 1,780 1,849 1,780 1,832 4.23
MIDCAP 3,566 3,652 3,566 3,651 3.91
OIL&GAS 8,370 8,477 8,359 8,447 3.87
SMALLCAP 3,978 4,084 3,978 4,082 3.57
POWER 2,171 2,196 2,167 2,183 3.31
PSU 5,964 6,071 5,964 6,039 2.99
HC 3,101 3,103 3,092 3,114 1.49

Mirroring the gains was Nifty at the National Stock Exchange, which ended the day with a 180.05-point gain, rising over 5.18 per cent.

Among the most actively traded stocks have been ICICI Bank, Reliance Industries, Bharti Airtel, Unitech and DLF.

The rising markets may also go a long way in boosting retail investors' sentiments and they may push themselves into ploughing money into equity schemes of mutual funds.

Top Gainers
Company  Price  Change w.r.t.
Previous Closing (%)

(Check Out: Highest Historical Gains)