The Telegraph
Since 1st March, 1999
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Market awaits magic moment

Mumbai, Jan. 31: Investors are anxiously waiting for trade to begin tomorrow to see if the sensex, which stopped short of the magic 10000 today, makes its mark finally.

The nifty beat sensex today to reach its magic threshold of 3000, while the BSE index ended tantalisingly close to 10000 at 9919.89, up 70.86 points or 0.72 per cent.

Market pundits expect the sensex to create history tomorrow as liquidity flow continues to be strong. This has been further strengthened by better-than-expected earnings from corporate India.

“The sensex seemed to be consolidating today. But, the 10000-level will certainly be breached in a day or two,” an analyst said.

For the first time in its history, the S&P CNX nifty closed at 3001.10, propelled by strong buying from institutions across sectors. Investors chased capital goods, metals and auto shares.

The key BSE index opened firm at 9892.23 against Monday’s close of 9849.03. After moving in a range between 9939.55 and 9873.37, the index closed at 9919.89.

Bhel, L&T, ABB and Suzlon witnessed hectic activity. Better-than-expected numbers from Mahindra & Mahindra boosted other counters too in this sector. Tata Motors, Hero Honda and TVS Motors ended in the positive territory.

The BSE capital goods index was the largest gainer as it shot up 2.26 per cent or 154 points, mirroring the strong rally in Bhel, L&T and others.

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