Monday, October 29, 2007

October 29th: Sensex hits 20K, ends up 735pts...

The Sensex opened with a positive gap of 378 points at 19,621, and then there was no looking back. Sustained buying across-the-board saw the index zoom past the 20,000-mark in late noon deals.

The index touched an all-time, intra-day, high of 20,025. The Sensex finally ended with a solid gain of 3.8% (735 points) - third biggest single-day gain - at a record 19,978. The index has gained 13.8% (2,418 points) in the last six trading sessions.

A strong rally in heavyweights like Reliance and L&T, along with gains in HDFC, BHEL, ONGC and ICICI Bank, helped the index cross the magical 20,000-mark today.

The index took only 10 trading sessions to gain 1,000 points after it crossed the 19,000-mark on October 15.

The market breadth was positive - out of 2,841 stocks traded, 1,581 advanced, 1,199 declined and 61 were unchanged today.