Sensex ends 236 points up as IT, auto, PSU stocks surge
Dec 26th, 2006 by shan
The benchmark Sensex ended higher by about 236 points, or 1.76 per cent, its biggest rally since 14th Dec on the BSE on brisk buying by funds, while brokers covered their short positions ahead of Dec expiry in the Futures and Option (F&O) segment.
The 30-share index, Sensex, which rose by over 86 points on Friday, added another 236.60 points to 13,708.34 after touching the session’s high of 13,726.62 on the back of a rally in IT, auto, PSUs and banking shares.
The wide-based National Stock Exchange index, Nifty, advanced by 69.35 points, or 1.79 per cent, at 3940.50, after touching the day’s high of 3,946.10 points.
Stock brokers said expectations that weakening rupee against the US dollar would boost software exporters’ earnings, triggered buying in frontline IT stocks such as Infosys Technologies, Tata Consultancy Services and Wipro.