Sensex breaches 18,000 mark, closes at new high

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On Tuesday, the stock market set several new records including the biggest single day gain of 789 points at close, as well as the largest intra-day gains of 993 points in absolute term.

The Sensex also recorded the second fastest 1000 point journey from 17,000 to 18,000 in nine trading sessions. The fastest 1000 point journey was achieved in six sessions between 16,000 and 17,000 last month. The index had taken 51 trading sessions to get from 15,000 to 16,000.

Political instability at the Center and deadlock over the India-US civilian nuclear cooperation deal between the UPA-led Federal Government and its key ally, the Left parties, resulted in causing tremors in the volatile capital market which saw the prime index close in the negative last week.

However, the Sensex rallied strongly this week, opening firmly on Monday. And, on Tuesday, news broke that the Left-UPA committee on the nuclear deal will meet on October 22, indicating the improbability of snap polls and sparking off aggressive buying by funds and rally in blue chip stocks led by Reliance Industries.

The Sensex, after touching a new intra-day high of 18,327.42, ended the day at a new closing peak of 18,280.24, a net rise of 788.85 points or 4.51 percent over yesterday's close of 17,491.39.

The broader S&P CNX Nifty of the National Stock Exchange (NSE) too rallied strongly for the day, soaring to an all-time trading high of 5,348.70 before closing at a new peak of 5,327.25 from previous close of 5,085.10, a net gain of 242.15 points or 4.76 percent.

Sectoral indices like banking, realty, capital goods and metals all ended on the greener side.

The BSE Mid Cap index rose by 2.62 percent to 7,400.21 and BSE Small Cap index rose by 2.1 percent to 8,985.50.

The BSE Oil&Gas Index outperformed the Sensex to close 5.78 percent higher.

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