Sensex above 5,000

MUMBAI, DECEMBER 30: Share values ended the last trading session of the millennium on a bullish note on the Bombay Stock Exchange (BSE) wi...

MUMBAI, DECEMBER 30: Share values ended the last trading session of the millennium on a bullish note on the Bombay Stock Exchange (BSE) with technology stocks leading the year-end rally. The benchmark Sensex finished above the 5,000 mark as speculators and local institutions stepped up buying in spite of uncertainties about the Y2K computer problems.

The rally was once again led by Infosys Technologies which crossed the Rs 14,000 mark. The market capitalisation of Infosys surged further and crossed the Rs 46,000 crore mark – which is very close to that of Hindustan Lever. At this level, Infosys stock is the highest priced share in the Indian market.

Sensex opened at 5015.35 – incidentally the day’s high – and fell below the 5,000 mark by touching the day’s low of 4937.99, before closing at 5005.82 points, showing a net gain of 66.35 points from the previous close of 4939.47 points. The S&P CNX Nifty index of the National Stock Exchange (NSE) closed at 1480.45 points showing a net gain of 4.10 points from the previous close of 1476.35 points.

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As usual, infotech stocks were the star performers during the day and the foreign institutional investors (FIIs) were major buyers. The overall mood was bullish. The mood was upbeat on the NSE with operators taking fresh positions in leading counters. Several shares like HCL Info, Gujarat Gas, Indian Shaving, Indian Rayon, Aptech and NIIT hit the circuit filter by registering nearly 8 per cent gains. Losses outnumbered gains with 79 scrips registering noticeable falls and 54 showing sharp to moderate gains. Seven shares, however, were unchanged.

Zee Telefilms clocked the highest turnover of Rs 555.07 crore of the total volume of business of Rs 3262.61 crore.