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Sensex ends at historic high of 6984
June 20, 2005 16:30 IST
The Ambani brothers' settlement on Saturday triggered the strong opening of the Sensex at 6,940 -- up 34 points over its last close of 6,906.
The index crossed its all-time closing and intra-day highs in early trades, but failed to breach the 7,000 levels in the first half.
The market was extremly buoyant thanks to steep upsurge in Reliance' and technology stocks while banking, auto, cement and other select old economy counters failed to make any impression following sharp correction.
The Sensex edge past the 7,000 mark in the afternoon trades and touched its all-time trading high of 7,002. After moving in a range of 6,980 and 6,995 towards the closing hours, the Sensex finally ended at its new all-time closing high of 6,984 -- up 78 points.
The Nifty advanced 21 points to to close at 2,144. Reliance Energy vaulted 11.33% (Rs 67) to Rs 658. Reliance Industries zoomed 4.92% (Rs 30) to Rs 630.
Infosys soared 3.79% (Rs 87) to Rs 2,375. While TCS shot up 2.34% (Rs 30) to Rs 1,297, Satyam jumped 3.49% (Rs 17) to Rs 503. Wipro also ended firm at Rs 755 -- up Rs 11.
Hindalco shot up 4.33% (Rs 49) to Rs 1,186, while Tisco gained 2.29% (Rs 8) to Rs 348. ONGC (up Rs 4 to Rs 922) ended in the green, after a weak early trades.
Ranbaxy surged 2.30% (Rs 24) to Rs 1,071, while other pharma majors were divergent. ICICI Bank dropped 2.67% (Rs 11) to Rs 405, while SBI tumbled 1.62% (Rs 11) to Rs 657. HDFC Bank, however, was up half a per cent (Rs 3) at Rs 597.
ITC slipped a per cent (Rs 8) to Rs 1,538. Gujarat Ambuja tanked sharply to close at Rs 59. While Grasim slipped a per cent to Rs 1,086, ACC closed down a tad at Rs 380. Tata Motors declined 1.51% (Rs 6) to Rs 414.
While Maruti and Hero Honda, too, ended at lower levels, Bajaj bucked the downtrend and ended with steady gains at Rs 1,256 - up Rs 6. Tata Power shed 2% (Rs 7) to Rs 366. While HDFC lost 1.28% (Rs 11) to Rs 850, L&T dipped 1.19% (Rs 13) to Rs 1,101.