BSE Sensex crosses 19000 mark in record trading sessions

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The 30-share BSE index rose 3.47 percent, or 639.63 points, to close at 19,058.67, with 28 components gaining. The index, which only crossed 18,000 points for the first time last Tuesday, touched an all-time high of 19,095.75 points during intra-day trade on Monday, journeying the last 1000 points in a record four trading sessions. It had crossed the 18,000 mark on October 9, 2007.

The broader S&P CNX Nifty of the National Stock Exchange (NSE) too rallied strongly for the day, up by 242.15 points or 4.46 percent to close at a high of 5670.40.

The benchmark BSE Sensex has risen 21.6 percent in the last 18 sessions ever since the U.S. Federal Reserve announced cuts in key interest rates on September 18. The record-setting run has been driven by foreign funds, which have bought a net $16.5 billion of shares this year up to Thursday, including more than $3.4 billion this month.

The sectoral indices performed well on Monday with the BSE Bankex zooming up by 396.02 points or 4.25 percent, the Oil & Gas index by 476.86 points or 4.51 percent, the PSU index by 483.09 points or 5.57 percent and the Capital Goods index by 505.01 points or 3.04 percent.

The market breadth was fairly positive - out of 2,838 stocks traded, 1,897 advanced, 876 declined and 65 remained unchanged.

The day’s top Sensex gainer was Reliance Energy (REL) which zoomed almost 13 percent to Rs.1847.

ONGC soared 9 percent to Rs.1191. Tata Steel surged 7.5 percent to Rs.911. Maruti rallied 5.8 percent to Rs.1160.

Hindalco and Bharti Airtel gained around 5.5 percent each at Rs.189 and Rs.1127, respectively.

SBI and Reliance Communications advanced 5 percent each to Rs.1957 and Rs.753, respectively.

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