Mon, 07 Sep 2009 15:54:18 GMT

Sensex closes 16k level first time this year

Mumbai: The Bombay Stock Exchange benchmark Sensex today closed over the 16,000-point level for the first time this year as buying in realty, metal and banking segments powered over 320-point rally on strong global cues.

Bombay Stock Exchange

Onlookers standing outside the Bombay Stock Exchange (BSE) watch the Sensex index on the digital broadcast in Mumbai on Monday. Indian shares rose 2.09 percent to hit their highest level in 15 months as Asian markets firmed on positive US jobs data last week that boosted economic recovery hopes, dealers said. The benchmark 30-share Sensex rose 327.2 points to 16,016.32, a level last seen in June 2008.

The 30-share index rose by 327.20 points to close at 15-month high of 16,016.32 points, a level never seen after June 2, 2008.

The wide-based National Stock Exchange index Nifty soared by 102.50 points to 4,782.90 points.

The rally was backed by steep rise in stocks of realty, metal and banking segments on reports that shortage of monsoon rainfall might ease, improving the outlook of farm production and boosting buying in rural parts of the country.

The fag-end surge was mostly attributed to higher opening in European stock markets this afternoon.

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