Date:25/04/2007 URL: http://www.thehindubusinessline.com/2007/04/25/stories/2007042505350100.htm

Back Sensex closes above 14,000

Our Bureau

Mumbai April 24 The central bank's policy to keep key interest rates unchanged propelled the Sensex to close above the 14,000-mark. The BSE benchmark index Sensex gained 208.38 points or 1.5 per cent to end at 14,136.72 points.

S&P CNX Nifty closed 1.39 per cent higher at 4,141.80 points.

Buying was seen across scrips. Dealers said the outlook was positive.

Foreign Interest

"The positive cues will help markets to touch newer highs in the next month. Also, emerging Asian markets have seen newer highs recently and Indian markets are expected to mirror the same. This has increased the foreign interest in our markets," said Mr Vijay Kedia, Managing Director, Kedia Securities.

Bank stocks led the rally with BSE Bankex index closing up 4.06 per cent at 7,161.40 points and Bank Nifty ending at 5,807.50 points, up 4.64 per cent.

State Bank of India was the biggest gainer among Sensex stocks, up 6.88 per cent at Rs 1,132.90.

Corporate Earnings

However, IT and Teck stocks saw a beating with the rupee at a nine-year high, raising concerns over their future corporate earnings. Shares of Wipro, TCS, Infosys all ended in red.

The market breadth was slightly negative with 1,279 stocks declining and 1,274 stocks gaining. FIIs were net buyers for Rs 340.39 crore on the BSE and NSE as per provisional figures.