Sensex at Dizzy Heights 21000 in Diwali 2010 – Coal India Record Debut at 40% Premium
The Bombay Stock Exchange (BSE) benchmark index, Sensex, continued its onward journey and rose al most 2.1 percent and closed at 20893.57 a tad below the psychological level of 21000 as anticipated in the market. The Sensex story followed the record breaking PSU stable stock Coal India Ltd (CIL) As anticipated as a Diwali Gift to investors, the market gave a thumps up 40 percent premium to Coal India Ltd and closed at Rs 342.35 after reaching a high of Rs 344.75
The sensex record high was due to excellent debut of Coal India and a fresh round of US stimulus to lift the sagging US economy. The Sensex gained 427.83 points or 2.09 over its previous lose. The intra day high was at 20917.03 Market men predict crossing 21000 psychologial levels soon, may be on Miuhurat Tradinf too on November 5, 2010. Out of 30 sensex scrips, 28 were in the positive side.
The star performer Coal India shares beat forecasts and gained 40 percent, made a record debut.
This year the Sensex gained 19.6 percent and is just few hundred points away from its all-time high backed by high foreign inflows, specially after September 2010.'
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