Sensex past 12K level after seven month

MUMBAI: The major achievement for Sensex in this week was touching 12K mark on Monday. The Sensex was seen on this level before seven month i.e. October 2008. on that day, Sensex jumped to 731.50 points. The Bombay Stock Exchange (BSE) 30-share barometer extended its weekly rally to ninth straight week, gaining another 473 points but unable to sustain higher levels in the week.
In the same week it has the biggest weekly percentage-wise gains in the BSE record book as there was a rise of 42.65 per cent since July 24,2006.

In the week ended on Friday, the Sensex touch the intra-trade high of 12,272.10 on Wednesday before ending the week at 11,876.43, a net rise of 473.18 points or 4.15 per cent over its previous weekend's close. The market was firmly supported by strong global cues and continued capital inflows as well as encouraging built-up of derivatives positions in the opening week of May series amid Lok Sabha elections and upcoming government. Marketmen said the market also had support from hopes of early recovery in domestic as also global economy. The 50-issue Nifty of the National Stock Exchange flared up by 146.75 points or 4.22 per cent to finish the week at 3,620.70 from its last weekend's close. Sustained frenzied buying by Foreign Institutional Investors on the back of signs of early revival in the global economy boosted the market sentiment.

Metal, consumer durable and metal shares topped the gainers table and drew heavy buying interest and notched handsome gains. As a result, the sectoral BSE-Metal index zoomed by 1,064.06 points or 15.45 per cent on the back of expectations of good demand from China after increase in the CLSA China's Purchasing Managers's index in April 2009 and also firm trend on London Metal E xchange (LME). The BSE-CD index rose by 190.91 points or 10.86% and the BSE-Realty by 225.20 points or 10.57%. The sharp increase was so strong that besides BSE-FMCG, all other sectoral indices closed in the green with a gain between 15.45 per cent and 1.78 per cent. 24 out of 30 index based counters also closed with sharp to moderate gains.