India Sensex Touches Record 6005 Pts On Blue-Chip Buying|
Friday, February 11 5:36 PM SGT
BOMBAY (Dow Jones)--The Bombay Stock Exchange's Sensitive Index, or Sensex, India's benchmark index touched a record 6005 late Friday on all-round buying in blue chips, mainly in technology shares, due to the strong rally in technology shares on the Nasdaq Thursday.
At 0945 GMT (4:45 a.m. EST), the BSE Sensex was up 169.46 points, or 2.9%, at 5958.50. On the competing National Stock Exchange, the S&P CNX Nifty was up 42 points at 1753.
"There is likely to be some amount of profit-taking at these levels but the market will continue to rise with everyone buying technology shares," a dealer at UTI Securities said.
Dealers said with the continuing rise in technology shares, even the laggards including the cyclical and the consumer product stocks will start attracting investments.
"Our outlook is still positive. We are expecting a good (government) budget. Technology will still rule in line with the current global trend," said Saumil Sheth of executive sales at Kisan Ratilal Choksey & Co.