Sensex climbs 170 pts in pre-close trading, SBI leads rally
Feb 1st, 2007 by shan
The Bombay Stock Exchange benchmark index Sensex shot up by over 171 points in pre-close trading on persistent buying by funds as well as retail investors.
The 30-share index climbed by 171.22 points at 14,262.14 at 1500 hours.
In similar fashion, the Nifty index on the National Stock Exchange was up by 47.65 points at 4,130.35.
Market observers said the union cabinet’s approval to transfer RBI’s stake in State Bank of India to the government and Rs 723 crore revival package for HMT Machine Tools Ltd, triggered the buying activity.
State-run State Bank of India stocks flared up by Rs 90 at Rs 1,229 on all-round buying activity.