Sensex crosses 19,000, closes at 19,059
Written by admin on October 15th, 2007 in Information, News.
Sensex crosses 19k, closes at 19,059
The stock market benchmark Sensex on Monday crossed the psychologically gratifying 19,000 points mark in a record four trading sessions on frantic buying in a number of front-line stocks. The BSE’s Sensex ended 639 points higher at 19,059, while National Stock Exchange’s Nifty closed 251 points up at 5670.
The 1,000 point rally from 18,000 to 19,000 comes within days of Finance Minister P Chidambaram expressing surprise and concern over the surge, which he attributed to speculators, while hoping that things would cool down soon.
The 30-share index registered a whopping gain of 608.03 points to touch the day`s high of 19,027.07 at 1445 hrs.
The record breaking rally betters the previous 16,000-17,000 point journey covered in six sessions. The next milestone came in eight trading sessions.
The biggest contributors to the rally were Reliance Energy (up 14.22%), ONGC (9.66%), Tata Steel (7.89%), Bharti Airtel (6.51%) and Reliance Communications (5.12%) and Maruti Udyog (5.03%).
Metal stocks were among the most sought after, while significant buying was seen in PSU, oil and gas and banking segment shares.
Mid-cap and small-cap stocks too witnessed significant buying.
It took the index eight days to climb 1,000 points from 17,000 to 18,000. Earlier, it took five sessions for it to move from 16,000 to 17,000, 53 sessions to move from 15,000 to 16,000 and 147 days from 14,000 to 15,000.
The key index was trading at 18,996.30 points around 3 p.m., posting a gain of 577 points or 4.28 percent.
With metals stocks hogging the spotlight, Sterlite Industries was the biggest gainer Monday, up 15.08 percent at Rs.937.50.
Chronology of 1,000 point rally
The following is the chronology of the 1,000 point milestones of BSE Sensex. 1000 July 25, 1990
- 2000 January 3, 1992
- 3000 February 29, 1992
- 4000 March 30, 1992
- 5000 October 8, 1999
- 6000 February 11, 2000
- 7000 June 20, 2005
- 8000 September 8, 2005
- 9000 November 28, 2005
- 10000 February 6, 2006
- 11000 March 21, 2006
- 12000 April 20, 2006
- 13000 October 30, 2006
- 14000 December 5, 2006
- 15000 July 6, 2007
- 16000 September 19, 2007
- 17000 September 26,2007
