Sensex regains 20,000 level

Sensex regains 20,000 level

Markets attained momentum on Friday consequent to gains in European stocks and data showing improvement in industrial output in March 2013 helping the barometer index of the BSE reclaiming the psychological 20,000 level and the other premium index of NSE was just short of the important 6100-mark.

India’s industrial production growth rose at a pace of 2.5 per cent in March, after its moderate growth of 0.6 per cent in February 2013. IIP had registered a growth rate of 2.4 per cent in January 2013.

The market breadth, indicating the overall health of the market, was positive in the morning but negative in late trade. In the day’s trade, index heavyweight and cigarette major ITC hit record high along with other cigarette stocks also gained. However, Reliance Industries (RIL), edged lower amid volatility, while auto stocks were on fire as the index climbed 2.1 per cent with Maruti Suzuki touching a 52-week high of Rs 1,732.

Sensex jumped 143.58 points or 0.72 per cent to settle at 20,082.62, its highest closing level since January 28, 2013. The index surged 180.10 points at the day’s high in late trade and fell 30.24 points at the day’s low in early trade.

The 50-unit CNX Nifty at NSE was up 44.60 points or 0.74 per cent to settle at 6,094.75, its highest closing level from January 4, 2011. The index hit a high of 6,105.30 and a low of 6,045.60 in intraday trade. Meanwhile, European stock markets extended their recent gains on Friday, keying off gains in Asia, where Japanese shares jumped after the US dollar climbed above the 100-yen level for the first time in four years. Key benchmark indices in France, Germany and UK rose by 0.6 to 0.88 per cent.

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