labels: finance - general, investment - general, markets - general
Sensex crosses 7000news
20 June 2005

Mumbai: The Sensex crossed 7,000 points for the first time in the history of the Bombay Stock Exchange today, boosted by sharp gains in Reliance group firms as the news of settlement between the Ambani brothers boosted investor sentiments.

The 30-share BSE index rose more than 1.3 per cent to 7,000 points.

The news of the settlement became public over the weekend and investor optimism was reflected on the exchanges throughout the day.

The four major Reliance stocks - RIL, Reliance Energy, Reliance Capital and IPCL flared up in opening trades.

Reliance Capital saw the most significant gains of close to 30 per cent at one point and closed with gains of 25 per cent. Reliance Energy followed with intra-day gains of over 18 per cent and closed with gains of with 11 per cent.

Reliance Industries and IPCL were far more subdued with over 5 per cent gains and closed at 5 per cent and 4 per cent respectively. Volumes were also very high in all these stocks, both in the cash and derivatives segments.

also see : Split to boost stock value

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Sensex crosses 7000